Delivered September 10, 2019. Contributor: Tamara P.
To have details on the customer journey for purchasing an engagement ring that will help with putting together a marketing campaign.
Shopping style and pre-purchase research
On jewelry generally, millennials often seek eclectic pieces from trendy brands and they prefer artisanal jewelry from small or new designers, or handcrafted works sold through online platforms like Etsy.
Millennials tend to compare prices online, research product details, and seek discounts and promotions.
Engagement ring customers are doing their research, and reading about brands and shops online before going into the store. They often have photos of what they want, and a lot more information about the product than people did five years ago.
The 3d-modelling try-it-before-you-buy method has been very popular.
A consumer survey on engagement ring purchasing focused on their price and style preferences (76% say they should cost less than $10,000 and the majority preferred a round diamond set and a traditional and elegant style).
Half the users prefer to buy from a local store, while half preferred a chain.
Lab created diamonds are increasing in popularity due to their eco-friendly characteristics.
More than one-fifth of U.S. engagement ring shoppers surveyed recently say they care about the responsible sourcing of diamonds.
Price is a key purchase driver, as is increased awareness of and acceptance of lab-grown diamonds.
Millennials are increasingly buying diamonds for themselves rather than for loved ones.
Increasing numbers of millenials are choosing not to get married at all, while many of those who do, view it as an equal partnership and hence make purchase decisions as a team.
Only the project owner can select the next research path.