From rings to diamonds to gemstones and watches, where you live matters when it comes to what Canadians want in jewellery.
—by Tyson Roset
When it comes to knowing what customers want, Tyson Roset, President of Roset Amore jewellery, has a first-hand, inside look at what Canadians are looking for when it comes to buying jewellery.” I grew up in the retail jewellery world and know that one’s view of trends and fashion can be limited to your local area based upon limited requests.”
By receiving hundreds of requests from customers, Roset is able to determine patterns and trends as they develop.
So, what exactly do Canadians want when it comes to jewellery? Here are Roset’s top jewellery trends based on what customers are asking for when it comes to diamonds, rings, watches, gemstones and store trends.
Diamond Shapes and Colours
We were not surprised by the popularity of Oval cuts this year. However, at this point, they have most likely peaked. Due to the popularity of the Oval stone, prices have gone up to over 20%. On the other hand, the price of Cushion stones has decreased 20%. The demand for Princess stones has remained soft, while Emerald and Asscher designs have held steady throughout the year. We are anticipating Pear and Marquis designs to become popular next year.
Colour diamonds have been on the rise for a couple of years. Popular colours of recent years are not nearly as in demand (Ex. Canary, Cognac, Champagne). One-of-a-kind colours have been very strong, including unique overtones like orange, pink, grey, and green. Chameleon diamonds are more in demand as prices are up by 20% this year. Salt and Pepper and off colour diamonds requests are up in Canada.
Requests for lab-created stones remain. The prices for these stones will continue to decrease as technology efficiency continues to increase. Also, requests for recycled diamonds has been growing as the next generation seeks out other environmentally friendly option.
As already stated Oval’s have outshined the competition. The most popular design we saw that accompanied this stone was an Oval halo with diamonds down the shoulders.
We were all impressed with the popularity of yellow gold, but have found that it has yet to catch on some Canadian Markets.
Personalizing ring designs with gemstones has been slowly increasing in popularity.
Three stone rings with fancy shapes are getting lots of attention.
Stackable rings have been crazy! We have been noticing more getting made with elongated stones: 3.5x2mm baguettes, 4x2mm Marquise and 3x2mm Ovals.
Customers are recognizing that custom design does not mean overtly expensive prices. Thanks to Pinterest and the CAD design process, custom jewellery is attainable and increasingly popular.
We are having so much fun this year with Gemstones. Colour has become popular. Lots of engagement rings were made with center gemstones. The rare and majestic Padparadscha Sapphires and Paraiba Tourmaline stones are just starting to be known among Canadian Consumers. Shades of Tanzanite was very popular this year due to ultraviolet being Pantone’s Colour of the Year.
A demand for natural, unheated gemstones has been in high demand with a special focus on Sapphires. Unique colours of Sapphire in high demand include teal, mint, peach, and light blue. There is also a growing fascination with colour-changing sapphires.
Although Morganite has peaked in popularity, we anticipate it will still remain popular in certain markets.
Trends in alternative medicine have been promoting gemstones as talismans for spiritual benefits. Regardless of where you stand on this issue, it can be used in your sales. Encourage your customer to personalize with a birthstone or healing gemstone on the inside of the ring so that it is always touching their skin.
We cannot keep up with the estate watch market. Rolex is in high demand in its sports models. This year, Rolex has been limiting its supply, and for reasons unbeknownst to jewellers and retailers, the Canadian retail pricing is lower than that is the US. As a result, most Rolex watches have been exported due to this discrepancy.
Rolex Datejust model and ladies’ styles are very common and are not in the same range as the Submariner, GMT, Skydweller, and Daytona. Brands including Breitling, Omega, Cartier, Tag Heuer, Hublot and IWC are very collectable as well.
Retailers are updating their brands and modes of business for the millennial market. New and simplified logos and websites with e-commerce functions are ideal.
Many stores are renovating in order to modernize to create a clean look and include updated technology. Posting daily to social media has kept us all jumping for the last year. Some stores have a dedicated employee focused on this mode of advertising. Instagram and Pinterest have become best friends with Computer Assisted Design (CAD). These tools are helping to close sales without the customer ever seeing a ring in store.
Buying gold for refining is down but we are seeing jewellers buy more and more second-hand diamonds. When it comes to second-hand stones it is a good idea to re-cut/re-polish and re-certify these stones. As well, a higher percentage of diamonds are being sold with GIA certificates and we are seeing EGL sales diminish as consumers are better informed on differences between the two
Jewellers have also found profit in a commission/estate display with profit share. This has proven to be another great way to target Millennials’’ interest in “vintage” items and to attract the environmental-conscience customer.