By Lauren Sommer, Managing Director, Moi Moi Fine Jewellery
As we move beyond one of retail’s busiest seasons, now is the perfect time for retailers to reflect on their performance and set the stage for success in 2025. Utilising 2024’s data, businesses can refine their strategies to meet the demands of the upcoming year. At Moi Moi Fine Jewellery, we’ve observed these shifts firsthand, particularly when comparing sales from November through January, evaluating the growth of online shopping, and considering how these trends will influence the retail landscape in 2025.
Understanding Christmas Spending Trends: Insights into Consumer Behaviour
The period from November to January has always been crucial for retailers, 2024 being no exception. We saw a notable increase in consumer spending, with Moi Moi’s sales up by 38% compared to 2023. By diving into Christmas spending patterns and consumer behaviour this year, we can better prepare for the year ahead. While online shopping remained strong, a clear shift towards in-store visits occurred during the final week before Christmas. Moi Moi saw a 25.2% rise in online sales, surpassing the 12.5% growth in brick-and-mortar transactions.
We also saw a rise in self-purchasing women in their 30s and 40s, many of whom were buying jewellery to mark personal milestones. Increasingly, jewellery is becoming a form of self-expression, with more consumers viewing it as a way to celebrate personal achievements, rather than just for special occasions.
Retail Trends to Watch in 2025
Looking forward to 2025, several key retail trends are set to shape the luxury and fine jewellery market.
● Sustainability and Ethical Sourcing
Sustainability is no longer just a buzzword; it’s becoming a core value for consumers. As people become more mindful of the environmental and social impact of their purchases, the demand for ethically sourced products will continue to grow. At Moi Moi Fine Jewellery, we’ve already embraced this trend by offering lab-grown diamonds as an alternative to mined stones, providing an ethical option without compromising on quality or brilliance.
● Growth of Omnichannel Shopping
Another major trend we expect to continue in 2025 is the growth of omnichannel shopping. Consumers now expect a seamless shopping experience, where they can browse online, check product availability in-store, and even reserve or try on items before making a purchase. Retailers who can integrate online convenience with in-store personal service will stand out, offering a hybrid experience that meets the needs of today’s savvy shoppers.
● Personalisation and Customer Experience
Personalisation remains a key driver in retail, and this trend is only expected to grow in 2025. Consumers are moving away from one-size-fits-all products and are seeking bespoke, tailored experiences that reflect their individual preferences. At Moi Moi, our Mosaic Collection embodies this shift, offering a range of customisable pieces that allow customers to create something unique. Retailers who prioritise personalised experiences and exceptional customer service will build lasting loyalty with their clientele.
Best-Selling Pieces and Changing Preferences
Sustainability and ethical sourcing becoming a top priority for today’s consumers, especially among younger, socially-conscious shoppers. Lab-grown diamonds, in particular, saw a significant surge, contributing to nearly 40% of our sales increase. These stones offer an ethical and affordable alternative to mined diamonds while maintaining their signature brilliance.
With the growing demand for customised and versatile jewellery heading into 2025 pieces such as Moi Moi’s Mosaic Collection have become best sellers in 2024. Items such as earrings from this collection saw significant sales growth, aligning with a shift toward more personalised jewellery.
A look at the best-selling rings from 2023 and 2024 reveals clear changes in customer preferences. In 2023, the Holly Oval and Holly Round lab-grown diamond rings were the top picks, with classic designs in the 1.50ct to 2.00ct range. By 2024, there was a noticeable shift towards larger and more varied stone shapes. The Hattie Oval and Holly Emerald rings emerged as the top sellers, with the 3.00ct Holly Emerald standing out as a bold statement, highlighting the move towards bigger stones and unique cuts.
Additionally, engagement ring sales surged as couples planned holiday proposals, with many opting for custom bridal pieces featuring ethical lab-grown diamonds. This reflects the increasing desire for luxury that is also sustainable, making responsible choices in engagement rings more popular than ever.
As we look to 2025, Australian retailers must stay attuned to the evolving demands of their customers. By prioritising sustainability, enhancing omnichannel experiences, and offering personalised service, brands can stay competitive and relevant in a rapidly changing market. It’s encouraging to see that the luxury and fine jewellery sector remains strong, with many consumers still eager to indulge in high-quality, meaningful gifts for their loved ones.