Luxury Market Still Going Strong Despite Recession

People might give up some things during a recession, but it looks like high-end jewelry is not one of those things. They may change how they purchase those items, like looking for deals at (Abazias) online instead of regular retail stores. Buying behavior is changing, but the gold and diamond jewelry market hasn’t been as affected as other areas due to the way gold has increased in value as the dollar has become less stable. Jewelry isn’t just something that looks nice, it can be a way to preserve wealth in uncertain times.

Changing Behaviors

One of the most recent things that have changed in the luxury market is the establishment of frugal ways of buying. It’s not just online businesses that are seeing a surge in buying, but businesses that offer layaway can entice consumers to buy the right ring for the right price, even if they don’t have the money now or not enough credit either. Recently, a diamond ring was bought on layaway worth $36,000.

Online shopping saves consumers money in multiple ways, also. They can save money on taxes, in some cases, and on gas to various stores while window shopping. Online websites, like, can offer large price discounts resembling wholesale prices due to lower overhead costs. Since online stores have a wider inventory than brick-and-mortar stores, consumers also get more to choose from and at better prices. This has resulted in many people doing their jewelry shopping online.

Paying cash is also a good way to get an even better discount. Abazias offers a 2.3% discount on cash purchases. Prior to the recession people whipped out their credit cards to make luxury purchases, but these days cash is much cheaper. The consumer may be becoming more frugal, but they are still willing to make jewelry purchases as long as they get a good deal and can manage it on a budget.

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