28 January 2019
The younger generation of buyers, or the so-called millennials, still value tradition when purchasing jewellery and watches, results of a new consumer survey showed.
Findings of the Inhorgenta Munich Trend Index by Messe München showed 51 percent of respondents viewed trust in the retailer as very important, followed by good availability of the product (49 percent) and good service (48 percent). Comparatively unimportant is the price/quality ratio (39 percent), the opening hours of the retailer (31 percent) as well as good opportunities for financing (23 percent).
A total of 1,040 women and men between the ages of 18 and 35 were surveyed.
“Watches and jewellery are emotional and very personal products. Therefore, trust has a central role in the shopping experience,” said Klaus Dittrich, chairman and CEO of Messe München GmbH. “This is good news not only for retailers but also for brands. They are ideally positioned to build this trusting relationship.”
The survey also found that 44 percent of respondents prefer to purchase jewellery and watches from jewellers and watch sellers in person, with 40 percent saying department stores were an important supplier, followed by online shops and retailers (38 percent).