Jewelry Marketers: Focus on Women
Put more money into TV ads, the Web and other media
that connect with these increasingly big spenders
To boost sales, you must expand your vision beyond gift-giving men, explore non-traditional sales channels and focus on new occasions, according to Future Vision: The Jewelry Market, a study by Unity Marketing Inc. of Stevens, PA.
Sales by fine jewelers will remain flat unless they expand their focus beyond weddings and other traditional gift-giving occasions, where the man is the primary buyer, says Pam Danziger, president and CEO of Unity Marketing, a luxury products marketing consultant. Imagine how small the womens apparel business would be today if its primary channels of distribution focused on men. To grow sales, jewelry companies must reach out to the self-purchasing woman and meet her in shopping venues where she is inclined to think about buying jewelry.
Danziger says jewelry distribution channels continue to shift away from traditional venues such as jewelry stores and into new formats, such as Web and television marketers. Traditional jewelers should consider fighting back by putting more marketing budget into the Web and television. Who would have thought television would be such a powerful medium to sell jewelry? she says. Television retailers play to a fundamental emotional need of all women. Every woman wants to be beautiful. Wearing beautiful jewelry helps make her beautiful. Jewelry marketers need to get with the program and help fulfill womens beauty fantasies. Even if traditional jewelers dont sell on TV, their ad presence makes TV-watching women know theres an alternative to home shopping shows.
According to the study, the demographic profile of the fine jewelry customer reveals a youthful woman with above-average income. According to the study, women bought fine jewelry at a higher rate than men in the past year (43% of women vs. 34% of men).
The frequency of fine jewelry purchases rises with income, with households with incomes of $75,000+ ranking highest.
- Unity Marketing, Stevens, PA; (717) 336-1600, www.unitymarketingonline.com.
||She buys her own jewelry now, but will she buy from you? Ad from Anne Klein.