Consumers Still Spending More In-Store

RAPAPORT... Consumers prefer to shop in-store, and spend more on jewelrywhen buying in brick-and-mortar than when purchasing online, a study by Citibank's Citi Retail Services found. "As jewelry is such a personal item, buying in-store largelyprovides consumers with the confidence that comes after physically viewing andhandling a product," Leslie McNamara, chief marketing officer and head ofworkforce development at Citi Retail Services, said last week. "Also, consumersindicated the value they derive from interacting with employees whileshopping." Citi surveyed 1,000US adults over the age of 18 for the study, which it carried out in May. Some 40% of people who had purchased jewelry bought a piece costing at least $1,000 in a retail store. The average maximum spend in a brick-and-mortar store was $2,269, the survey found. That amount is more than double the averagefor the most expensive jewelry item purchased online, at $1,099. In addition, nearly half of those surveyed preferred to shopin a store, citing the physical experience of inspecting and trying on theirjewelry prior to purchasing. More than two-thirds of those who have boughtjewelry have purchased most, if not all, of their pieces in a store, comparedto 12% who have done so online, according to the data. Other factors also influenced consumers' decision to shopin-store, the study noted, with 27% of those surveyed stating that jewelrybought online looked different than they had expected. Some 19% felt that theironline-jewelry purchase was not the correct size, while 14% suffered from theirorders not arriving on time for events such as birthdays or holidays. While many shoppers still buy jewelry as gifts, some 50% of all jewelry purchasers, and 57% of millennials, had bought most, or all, of their jewelry collections for themselves. Buyers are also interested in jewelry services, the studyfound. When it comes to financingoptions, 28% of those surveyed approved of the idea, with 43% of those likely to useit for an anniversary gift, 34% for a wedding, 15% for a graduation and 12% fora new baby. Some 49% of respondents were interested in complimentary cleaningservices, while 16% wanted styling assistance when purchasing an item ofjewelry. A smaller portion of consumers felt that leasing and rental programs, suchas short-term borrowing, would be a good service, with 6% choosing that option. Image: A woman shopping for jewelry in a store. (Shutterstock)