The Coronavirus pandemic is putting celebration on hold. Over the past month, social gatherings and events have been adjusted to fit our computer screens. We’ve seen Zoom ($NASDAQ:ZM) birthday parties, Zoom Bar Mitzvahs, Zoom baby showers, and even Zoom weddings. Something we haven’t witnessed much of is Zoom proposals.
Jewelers and wedding companies are definitely feeling the lack of romance in the air. Kay Jewelers’ ($NYSE:SIG) Facebook mentions surged around Valentine’s Day and dropped 82% by the end of March. As of this week, the company’s Facebook ‘Talking About’ count is the lowest it’s been in six months.
Wedding planning website The Knot ($THEKNOTWW) saw Facebook mentions surge in March, with couples rushing to postpone their special day as Americans began quarantining and social distancing. Mentions shot up a whopping 206% from Valentine’s Day the month prior, but have since dropped 293% from that peak.
Meanwhile, the ‘Talking About’ count for the Knot’s marriage counseling app Lasting is the highest it’s been since we started tracking the company’s data a year ago. Facebook mentions peaked late last month, jumping 48% since February.
The Knot’s “How They Asked” Facebook page — dedicated to sharing proposal stories, photos, and videos — seems to be recycling old content. Facebook mentions are down 76% from March.
And fewer newlyweds means fewer new hires for The Knot. Since last month, the company slashed job postings by nearly half.
DTC companies like the online jewelry retailer Blue Nile ($NASDAQ:NILE) might be better suited for pandemic era engagement. Blue Nile’s Facebook mentions are down from Valentine’s Day, but they’re climbing upward. In just two weeks, the ‘Talking About’ count rose 27%.
Depending on how the rest of 2020 goes, quarantine engagements and Zoom proposals could become the new norm. But for now, it seems to be the last thing on people’s minds. Some quarantined couples are realizing they can’t stand each other (a new portmanteau, “Covidivorce,” is trending.) And even if you’re blissfully cohabitating with your significant other, it’s hard to plan for the future when new flavors of chaos are unfolding every day.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.