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Wedding ring sales up 85% in summer 2021 compared to 2020, engagement rings up 40%

TEILOR, the chain of luxurious jewellery shops current within the CEE area, experiences an 85% enhance in marriage ceremony ring gross sales and a 40% enhance in engagement ring gross sales in Romania in the summertime between June 1st and September thirtieth. 2021 in comparison with the identical interval final 12 months. Along with the elevated variety of items bought, Romanian prospects at the moment are investing extra within the items as the typical spend per marriage ceremony ring bought by TEILOR has elevated by 95% in 2021, whereas engagement ring spending has elevated by 70% in comparison with final summer season .

“After a troublesome 2020, we will say that we skilled a “Summer time of Love” in 2021. We have seen a double-digit enhance in demand for each marriage ceremony bands and engagement rings as {couples} are eager to go forward with their marriage ceremony plans as a result of easing of restrictions. As TEILOR now we have supported the “Summer time of Love” and the return to normality by providing our prospects a free diamond on their marriage ceremony ring, additional growing our gross sales between June and September 2021. We’re seeing prospects growing their budgets for each engagement rings and marriage ceremony bands this 12 months and we count on this pattern to proceed within the years to return as younger {couples} want to put money into distinctive but timeless items,” mentioned Anda Jurca, Group Gross sales Director at TEILOR.

In 2021, Romanians spend a mean of 160% of the median wage on an engagement ring, virtually double in comparison with a mean of 90% of the median wage in 2020. When shopping for an engagement ring, roughly 75% of males select the engagement ring themselves, with the proportion has declined in recent times as there’s a rising pattern for {couples} to decide on the ring collectively. As well as, increasingly more ladies select the engagement ring themselves, with the accomplice caring for the acquisition and preserving it as a shock for the time being of a proposal. In 2021, the most important pattern in engagement rings has been the flowery minimize diamond ring, which means a hoop with a diamond of a special form than the spherical sensible minimize. The most well-liked mannequin in Romania stays the solitaire and princess minimize, however there’s a rising demand for emerald and oval minimize diamond rings.

TEILOR additionally famous a rise in spending on marriage ceremony rings, which has gone from 80% of median wage in 2020 to 88% in 2021. Wedding rings are sometimes made by ladies. Pattern-wise, youthful prospects are now not reaching for matching units for marriage ceremony bands, ladies want to achieve for eternity diamond bands, whereas males select the band that finest represents their model and character. Increasingly prospects are transferring away from the basic marriage ceremony rings and are choosing a easy pair of marriage ceremony rings with a mixture of white and rose gold.

Relating to different vital tendencies within the Romanian jewelery market, TEILOR observed a rise within the frequency of purchases. 5 years in the past, prospects purchased jewellery a mean of 1.2 instances per 12 months, however in 2021 the typical is 3.5 purchases per 12 months. There may be additionally a rising demand for top of the range jewellery as prospects at the moment are extra inclined than earlier than to buy in Romania moderately than overseas as a result of range of the collections in addition to the standard of the jewellery, suggesting that Romania is transferring to the class of a mature market within the jewellery phase.

TEILOR is the biggest fantastic jewellery chain in Romania with 55 brick-and-mortar shops, six of that are TEILOR Unique shops providing their prospects restricted collection of handmade and punctiliously chosen jewellery with diamonds and valuable stones. By the top of 2021, the TEILOR community will embrace 61 branches, 53 of that are in Romania, 4 in Poland, three in Bulgaria and one in Hungary. For 2021, the corporate is concentrating on a turnover of 230 million lei, a rise of 64% in comparison with a turnover of 140.4 million lei in 2020.

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The overall worth of investments within the growth of the TEILOR community earlier than the 12 months is 30 million lei. Along with investments in brick-and-mortar shops, the corporate is contemplating additional investments to additional develop its on-line platforms in an effort to enhance the omnichannel expertise for patrons. TEILOR at present operates 5 e-commerce platforms –teilor.com,teilor.ro,teilor.hu,teilor.bg andteilor.pl.

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