As more consumers seek ways to manage the high cost of jewelry, BNPL is changing the game.
Valentine’s Day has become synonymous with thoughtful gifts, romantic gestures, and, of course, jewelry. Each year, millions of Americans search for the perfect gift to express their affection. This year, however, there’s more than just love in the air. There’s a notable shift in how we shop, especially when it comes to the high cost of jewelry. As more consumers seek ways to manage the high cost of jewelry, Buy Now Pay Later is changing the game. Let’s dive into how this payment solution is reshaping the jewelry industry this Valentine’s Day.
Buy Now Pay Later & Jewelry: A Convenient Payment Solution for Gift Givers
The Timeless Appeal of Valentine’s Day Jewelry
Love is in the air, and the jewelry industry is sparkling with possibility. Jewelry has always held a special place in the language of love. A carefully chosen piece does more than catch the light – it captures a moment. Valentine’s Day brings out the romantic in all of us and jewelry is a standout gift for many. According to the National Retail Federation, Americans will spend a staggering $6.5 billion on jewelry this Valentine’s Day. And nearly a quarter of all Valentine’s shoppers plan to gift jewelry this year 1.
But while the desire to give something special is strong, rising costs often make it difficult to follow through. With inflation and other financial priorities, paying for such a gift upfront is out of reach for many consumers. Simply put: the cost of jewelry has risen. The spot price of gold alone has surged by nearly $1,000 in the past five years 2. As material costs climb, so do prices of the jewelry itself. Today, the average engagement ring costs a staggering $5,500 — and that’s no small commitment 3 .
Yet, the high price of gold and precious metals hasn’t dampened our enthusiasm for luxury— it’s sparked creative solutions.
The Modern Shopper in the Jewelry Industry
The modern shopper is more complex than ever. They want variety, flexibility, and a seamless shopping experience— and they want them now. Because of this, jewelry financing and installment plans can be a perfect fit. This synergy is just one reason why buy now pay later solutions for jewelry are gaining popularity.
The Modern Jewelry Shopper wants… eCommerce and In-Store
Gone are the days of strolling into a store and hoping to find something that speaks to you. 70% of shoppers now begin their journey online, researching, comparing prices, and reading reviews before stepping foot in a store (Challenges in the Jewelry Industry in 2025, UCFS.net). Digital window shopping has become an art form, with 62% of consumers purchasing jewelry online in the past year. Interestingly, though, brick-and-mortar stores are still the preferred place to purchase these pieces.
While the online experience is a great way to start, the traditional jewelry store experience remains invaluable. Nothing quite compares to seeing that sparkle in person. This is where jewelry stores still have the upper hand, offering the tactile experience that online shopping can’t replicate. This is where the intersection of digital and physical retail becomes essential.
The Modern Jewelry Shopper wants… Luxury and Affordability
Jewelry has long been a symbol of luxury. But today’s definition of luxury is evolving and today’s consumers are redefining it on their own terms. Luxury and exclusivity don’t go hand in hand as much as they used to. With jewelry retailers adapting to meet these changing expectations, the barriers that once made fine jewelry inaccessible are falling away. Jewelers are offering more variety and providing services that cater to a broader audience. The focus has shifted from keeping luxury exclusive to making it attainable without compromising quality.
The Modern Jewelry Shopper wants… BNPL Jewelry
The jewelry industry has gradually found ways to balance luxury with accessibility. But quality pieces still come with a hefty price tag — there’s no getting around that.
Simply put, there has to be more than just two ways to pay. Consumers are used to having options. When you walk into a store, you’re met with a variety of choices. It’s no different at a jeweler’s — different styles, stones, sizes, and metals. But when it comes time to pay, we’re often presented with just two options: cash or credit. That doesn’t add up. Not everyone has the liquidity to pay in full, nor the desire to take on a credit balance and watch it rack up interest. In today’s world, consumers expect more flexibility, especially when making significant purchases.
The good news? Today’s buyers are more savvy than ever, often turning to solutions like BNPL jewelry to make those special gifts more affordable and attainable.
The Power of BNPL Jewelry
As consumer behavior shifts toward more flexible payment options, BNPL solutions are becoming increasingly important in the jewelry market.
This Valentine’s Day, jewelry isn’t just about love — it’s about making that love accessible. With the high costs of gifts, many consumers are turning to BNPL solutions to make their purchases easier to manage. These flexible payment plans allow buyers to split their payments into smaller, more manageable chunks.
As consumer behavior shifts toward more flexible payment options, Buy Now Pay Later companies are becoming increasingly important in the jewelry market. For jewelry retailers, offering BNPL solutions is a way to increase conversions and drive sales. By offering flexible payments, merchants attract a wider customer base, especially those hesitant to commit to a large upfront purchase. But not all BNPL jewelry providers are created equal. And in order to stand out in a crowded market, you’ll need the right BNPL partner.
What is “The Right” Buy Now Pay Later Solution for Jewelry
Here’s a breakdown of the main BNPL jewelry players:
1.“Pay-in-Fours”
Some Buy Now Pay Later companies, such as Afterpay and Klarna, offer simple “pay in four” plans. With a pay in four, purchases are divided into four equal, often interest-free payments. While great for smaller purchases, these models fall short for larger jewelry items. For example, splitting a $5,500 engagement ring into four payments of $1,375 still places a significant financial burden on the consumer. These plans don’t fully ease the financial stress of big-ticket jewelry.
2. Single-Lender BNPLs
Some BNPL companies, like Affirm, offer the ability to fund more expensive jewelry by spreading payments out over time. However, providers like Affirm operate as single lenders, which limits options. Relying on just one lender means the solution isn’t as accessible. If the lender faces high losses, they may raise interest rates or tighten lending criteria, leaving some consumers stuck. Plus, these services don’t accommodate all credit scores — so one size definitely doesn’t fit all.
3. BNPL Gateways
The third option is a BNPL Gateway, and WeGetFinancing is truly the only player in the game. Unlike traditional lenders, they are a technology platform, not a lender. This means their single application connects customers to a variety of lenders, each offering different terms. The customer has the flexibility to choose the best rate and repayment plan that suits their financial situation.
Final Thoughts: A Smart Payment Solution for Valentine’s Day BNPL Jewelry
As the jewelry industry evolves, BNPL is set to become an even more integral part of the shopping experience.
As Valentine’s Day approaches, consumers will be looking for meaningful ways to show their love. For many, this means jewelry — a gift that has stood the test of time as a symbol of affection. However, the cost of such gifts can be a barrier to some buyers. Advanced BNPL solutions provide a vital tool for overcoming this obstacle, offering an easy way to make purchases without financial strain. But not all BNPL companies are equal in the credit flexibility and conversions they offer. And finding the RIGHT solution, especially for the jewelry industry, is just as important as having a BNPL solution altogether.
By partnering with a good Buy Now Pay Later provider, jewelry retailers can offer seamless payment solutions. This makes it easier for consumers to commit to purchases, whether it’s a sparkling bracelet or a dazzling engagement ring. As the jewelry industry evolves, BNPL is set to become an even more integral part of the shopping experience. Helping consumers treat their loved ones without breaking the bank is the goal, and BNPL is making it possible.
Interested? For this month only, we are offering a completely free merchant experience with WeGetFinancing. Try us completely risk free if integrated by March 1st!
NOTES
- Valentine’s Day spending reaches records 27,5 billion, Nrf.com ↩︎
- Gold prices soar to record highs, Yatesjewelers.com ↩︎
- How much should i spend on an engagement ring, Vogue.com ↩︎
