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3/12/2025
Sure. So, maybe I can start a little bit with engagement ring trends. While we still believe it's going to be a multi-year normalization, we're happy to have our best year-over-year unit comp in Q4 compared to prior quarters in the year. We also had good year-over-year unit growth in showroom engagement rings in Q4 from units. So, I think we're starting to see that normalization. We continue to see improvement in sequential engagement ring unit trends in Q1 to date with similar performance by price point as we saw in Q4. So I think very promising trends overall. I think as it relates to what's going to drive our growth, we have a lot of conviction in the overall strategy where we are investing in our showroom growth for the future, investing in our fine jewelry growth and the compelling products that we're known for, and continuing to invest in being the premium brand and the most loved jeweler for our consumer base. So all of those are going to drive our growth. And we've seen very strong growth as it relates to non-engagement. And we're going to continue to lean in there and continue to invest in bridal which is really the entry point for our consumer base. Jeff, do you want to talk about AOV? I think that was the last question that Oliver had.
Sure. Thanks, Beth. Hi, Oliver. So with respect to AOV, I think this is something that we do expect to see moderate over time with the success that we're having in fine jewelry in particular. I think that's just a factor that we expect will continue to be a strategic driver success factor for us. We're having the growth in orders in fine jewelry. And as you know, fine jewelry orders tend to have a lower average order value. And so this is something that is expected and it is concurrent with the success that we're having in fine jewelry. So we do expect that AOVs will continue to moderate over time as we're driving that success in fine jewelry.
And the only other thing I would add is as it relates to bridal, we are seeing strongest demand below $5,000. And so that's the customer demand that we're seeing, and that's another contributing factor.
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