WEBINAR – Jewellery analyst Paola De Luca foresees “revenge shopping” after lockdown

Jewellery strategist Paola De Luca, in a Jewellery Outlook webinar streamed to hundreds of viewers, predicted a burst of “revenge shopping” after the lockdown.

In an interactive session on March 30, Paola, who is well-known for her seminars at trade events around the world, said people would turn to jewellery purchases for emotional solace.

“I believe in ‘revenge spending,’” Paola, who heads creative intelligence agency The Futurist, said in response to a questioner. She was referring to expectations for a surge of pent-up demand from customers who have saved cash during the coronavirus-driven lockdown due to cancelled transactions or cashing in financial assets.

“The first piece of jewellery that I will purchase after this lockdown will be a talisman – something emotional. I will celebrate when this period is over!” Paola said.

The global industry will need to sharpen its digital offering and messages to consumers, combining digital and physical (Paola calls it “phygital”) platforms.

“In terms of engaging with our community, technology will be the winner,” Paola said in a half-hour address. “Emotional technology will be key (to drive sales).”

Customers will increasingly shop for jewellery created in a sustainable supply chain, and will celebrate heritage in innovative ways, she added.

More than 400 people from the jewellery trade registered to join the webinar.