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Engagements will boost jewelry sales this holiday season:Signet




An increasing number of couples are getting engaged, which will boost jewelry sales this holiday season and in the year ahead, Signet’s chief financial, strategy, and services officer Joan Hilson said.

“We believe that engagements hit a trough in [the most recent] quarter,” she says. “That bridal trough is behind us.”

Signet has developed a suite of metrics to predict engagements—made up of 45 relationship milestones, such as attending a concert together, that it believes signal a couple’s growing commitment. Those stats show that engagements fell sharply because the COVID-19 pandemic put a crimp in everyone’s social lives. Signet expects engagements to remain down for some time, but it predicts they will start to recover in the months ahead and gain steam over the coming year.

It helps that young people still believe in marriage. “In our research and surveys, nearly 80% of nonmarried millennials and Generation Z adults want to get engaged,” Hilson says.

jckonline.com



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