Tracemark announces a pioneering study into the impact of ethical and sustainable buying patterns on the jewelry industry
The traceability start-up is analysing consumer preferences in the first and most in-depth study on sustainable luxury products of 2021
The 2021 Sustainable Luxury Consumer Report from Tracemark: the first company in the world able to trace jewelry from the mining company to the end consumer, aims to investigate the impact of ethics and sustainability concerns on purchase decisions in the diamond and jewelry market.
This report will be the first of its kind in 2021, providing powerful, in-depth insights into the current market landscape and the luxury consumer of today, focusing on the expectations, perceptions and awareness of sustainability and ethics in the industry that impact consumer behaviour.
Participation in the study is open to all jewelry customers and consumers, and we warmly invite you to participate by following this link.
The impact of sustainability on the consumption of luxury goods in 2021
2020 has been a decisive year across the board, and this has been certainly felt in the changing demand for sustainable goods. Radical transformations have been observed in all major sectors and industries, and global supply chains have been shaken up while in parallel consumers have had more time than ever to reflect upon the purchase decisions they make, with studies carried out to date showing an ever-rising demand for corporate social responsibility and transparency. How does this translate to the jewelry and diamond industry? This is what Tracemark intends to find out.
In this study, Tracemark will investigate how the COVID-19 pandemic has influenced consumers’ perceptions and awareness of sustainability, ethics and responsible sourcing in the jewelry industry. Futhermore, given the growing interest in traceability, this study will analyse the power of origin-awareness for jewelry products in the market, and reveal to what degree brands’ current sustainability narratives are convincing to the consumer. Should brands take an extra leap into transparency in order to successfully convince their customers and respond to their changing needs?
Available free of charge from February, the Tracemark’s 2021 Sustainable Luxury Consumer Report will connect the industry and the world of jewelry production and manufature with the latest information available about the consumption of jewelry in an ever more sustainable and ethical world. With this information, Tracemark aims to foster collaboration between stakeholders in order to efficiently attract today and tomorrow’s jewelry consumer, and bring about positive, long-lasting and visible change both in the industry and in the world around us.