In this op-ed, Moi Moi Fine Jewellery co-founder Lauren Sommer (pictured left) discusses the shifting trends and consumer insights from 2024 and shares 2025 predictions.
As we move past one of retail's biggest peak periods, now is a more important time than ever for retailers to analyse and reset, using their 2024 stats to shape their business for 2025. At Moi Moi Fine Jewellery, we’ve observed these shifts first-hand, particularly as we compare the performance of November to January sales, assess the rise of online shopping, and consider how these trends will shape the retail landscape heading into 2025.
Christmas Spending Habits: A Deep Dive into Consumer Behaviour
November through to January has always been a critical time for retailers and 2024 has been no exception. This year, we saw an increase in overall consumer spending, with Moi Moi’s sales specifically rising by 38 per cent, compared to 2023. By analysing Christmas spending habits and consumer behaviour in 2024, we can better position for success in 2025.
While online shopping continued to perform strongly, there was a noticeable shift towards in-store visits during the final week leading up to Christmas. When it comes to sales channels, Moi Moi reported a 25.2 per cent increase in online shopping, significantly outpacing the 12.5 per cent growth in in-store sales.
Through these spending habits, Moi Moi also noticed a rise in self-purchasing women in their 30s and 40s, many of whom were buying jewellery to mark personal milestones and achievements. Jewellery purchases are increasingly being seen as a form of self-expression and empowerment, moving beyond special-occasion buys.
Brand-Specific Insights: What’s Selling and Why
Sustainability and ethical sourcing have become key priorities for today’s buyers, especially among younger, values-driven consumers. With almost a 40 per cent increase in sales, we’ve noticed lab-grown diamonds are certainly making a significant impact on the fine jewellery market, offering a more affordable and ethical alternative to mined diamonds while maintaining the same brilliance.
Collections like Moi Moi’s Mosaic Collection which cater to the growing demand for customisation and versatility was also a big trend we noticed in 2024. Jewellery items like earrings and pieces from the Mosaic Collection saw a noticeable increase in sales, reflecting changing consumer preferences in the jewellery market.
When comparing the best-selling rings from 2023 and 2024, we see a clear shift in consumer preferences. In 2023, the Holly Oval and Holly Round lab-grown diamond rings dominated the top spots, with classic designs and sizes like the 1.50ct to 2.00ct range leading the way. However, by 2024, there was a move towards larger, more diverse stone shapes, with the Hattie Oval and Holly Emerald rings topping the sales charts. The 3.00ct Holly Emerald, in particular, marked a shift towards bigger stones and more unique cuts.
It’s important to also point out the surge in engagement ring sales as couples planned for holiday proposals. Custom bridal offerings, featuring ethical lab-grown diamonds, resonated strongly with modern couples looking for a blend of luxury and sustainability, further highlighting the growing demand for responsible yet stunning options in the engagement ring market.
Key Retail Trends to Watch for in 2025
Looking ahead to 2025, there are several key retail trends that we predict will continue to shape the market, particularly in luxury and fine jewellery.
- Sustainability and Ethical Sourcing:
Sustainability isn’t just a passing phase. It’s becoming a fundamental part of the retail landscape, with consumers increasingly aware of the environmental and social impact of their purchases. We expect this focus on sustainability to intensify in 2025. At Moi Moi Fine Jewellery, we’re already prioritising this with our lab-grown diamonds, offering a more affordable and ethical alternative to mined diamonds while maintaining the same brilliance.
- Omnichannel Shopping Growth:
The rise of omnichannel shopping is another key trend we expect to grow in 2025. Consumers are now seeking seamless shopping experiences, where they can shop online, check availability in-store, and even reserve or try on pieces before making a purchase. Retailers who can provide a hybrid shopping experience that marries the convenience of online shopping with the personal touch of in-store service will stand out in 2025.
- Personalisation and Customer Experience:
Personalisation continued to be a powerful trend in 2024, and it’s expected to grow even more in 2025. Consumers are no longer content with one-size-fits-all products. Instead, they’re seeking bespoke experiences that speak directly to their individual tastes and needs. Moi Moi’s Mosaic Collection embodies this through its customisation and versatility. Retailers who can offer high levels of personalisation and exceptional customer service will see increased customer loyalty and engagement in the year ahead.
As we look towards 2025, Australian retailers must stay in tune with evolving consumer demands. By embracing sustainability, enhancing omnichannel experiences, and offering personalisation, brands can ensure they remain competitive. It’s encouraging to see the luxury and fine jewellery market continuing to show resilience, with many consumers still willing to indulge in high-quality gifts for loved ones.