The new Jewellery Trend Report by bespoke engagement ring and jewellery brand Taylor & Hart has identified sustainability as an essential element when it comes to landing a key customer base – millennials.
By analysing internet searches, examining engagement ring trends and the impact of COVID-19 on the wedding industry, the Trend Report identifies which trends are on the rise.
Environment is essential
In a world where climate change, environment efforts and sustainability remain high talking points, the Trend Report revealed that 70% of young people agree that having a strong point of view on social issues is essential when it comes to brand influence.
It also appears that transparency is climbing the ranks when it comes to younger customers, with over half of Millennials and Gen Z saying they would be more likely to trust a brand which shares its challenges and details their ‘work in progress’ to become better global citizens.
Throughout 2020, search terms such as ‘recycled’, ‘sustainable’ and ‘ethical’ all saw significant spikes when compared to the previous year as more people than ever become aware of their environmental impact. It seems consumers are keen to support brands which are making conscious steps to be more sustainable and more environmentally-ethical going forward.
With this in mind, over two thirds of all brands are now making sustainability a leading issue, and – with its intimate connection to the earth’s precious resources – it’s predicted the jewellery industry will be a particularly strong leader in this area.
Taylor & Hart’s Jewellery Trend Report – the first done by the brand – also looked at trends in specifically the proposal and engagement industry, the rise of tech in retail and the ever-changing materials of jewellery design.
On the report, Kate Earlam-Charnley, design director at Taylor & Hart, said: “In an increasingly fluctuating landscape for brands and consumer behaviour, we need to rethink how we connect with young people not just as consumers but as individuals.
“Accountability regarding environmental impact is no longer optional. It’s essential. We’re excited to see this consumer-led shift in behaviour towards making a better future for all living things. 2021 will ring in the golden age of the conscious buyer.”
The full report by Taylor & Hart can be found here.