Around 2.1 million couples will get engaged this year and we have significantly more people that we see in the dating funnel that we are now tracking into 2024.”ĭrosos provided more details about Signet’s ability to forecast engagement trends during the company’s most recent earnings call with analysts. “We have 14 million people right now in the dating funnel that we can identify in our database.
“It’s our proprietary signals that tell how couples are progressing through the 3.25 years from when they meet to when they get engaged,” she said. Courtesy of Zales/KAY Jewelersĭrosos said Signet is able to closely track the yearly engagement cycle because of its customer data platform. That rebound is crucial to Signet since bridal jewelry accounts for 50% of its overall merchandise sales.Īn aquamarine and diamond engagement ring in white gold from Kay Jewelers Neil Lane, priced at $3,399.99. In 2024, Signet expects engagements will reach 2.4 to 2.5 million.
She said it will continue to head lower to level out at 2.1 to 2.2 million in 2023 before climbing back up and fully rebound over the next three years. Last year, the number slipped to 2.5 million. We had predicted that we would see a lull in engagements caused several years ago by Covid,” said Signet CEO Virginia Drosos during a company presentation at the Goldman Sachs Global Retailing Conference on Wednesday.Ībout 2.8 million couples, on average, get engaged every year in the United States, said Drosos. “Covid created a temporary disruption in dating. This trend then created an “engagement gap” since couples get engaged, on average, about 3.25 years after they begin dating, according to Signet’s proprietary data.īut with the return of many pre-pandemic lifestyles, including dating, Signet (owner of Zales, Jared, Kay Jewelers, Blue Nile and Diamonds Direct) said the lull in proposals is expected to bottom out this year, and engagements will likely rebound starting in early 2024. Expect plenty more Champagne corks to pop in 2024, because engagements are expected to pick up steam after a pandemic-triggered drop-off.Īccording to Signet Jewelers, the largest jewelry company in the United States, the pandemic dented sales of engagement rings as relationships faltered – or never even blossomed in the first place – as people stayed inside or avoided socializing outside of the immediate family.
0 kommentar(er)
