Signet CEO Talks Shopping shift in Jewelry

The video discusses the shift in consumer behavior towards higher-end jewelry amidst inflation, highlighting the impact of COVID-19 and stimulus on spending. It explores shopping habits, noting a blend of online and in-store purchases, and the success of Cyber Monday. The discussion covers holiday shopping trends, inventory management, and the resilience of jewelry compared to apparel. Emerging trends include fewer but higher-quality gifts, men's jewelry, and the wedding boom, emphasizing jewelry's role in engagement and wedding gifts.

What strategic change did the jewelry business make in response to inflation and challenges faced by lower-income customers?

• They stopped selling jewelry to lower-income customers.

• They focused on increasing online sales only.

• They started targeting higher-income customers with higher-priced jewelry.

• They reduced prices on all jewelry items.

What percentage of the best customers shop both online and in-store before making a purchase?

• 100%

• 75%

• 50%

• 90%

What was unique about the jewelry business's Cyber Monday performance?

• It had the highest revenue but lowest visits.

• It was the worst in both revenue and visits.

• It had the highest visits but lowest revenue.

• It was the best in both revenue and visits.

What trend in jewelry purchasing emerged after COVID?

• People are buying more jewelry for themselves than for others.

• People are buying more men's jewelry but less women's jewelry.

• People are buying fewer holiday gifts but of higher quality.

• People are buying more holiday gifts but of lower quality.

What percentage of gifts exchanged between engagement and marriage are jewelry?

• 60%

• 43%

• 75%

• 25%