Professional Jeweler Archive: The Gold Jewelry Buyer, Circa 2003

September 2003

Image


The Gold Jewelry Buyer, Circa 2003

Target these customers in your ads and promotions to enjoy increased sales, says the World Gold Council


Gold jewelry is a favorite fashion item for women, especially the burgeoning number of those who buy for themselves. The World Gold Council has some profiles for you.

In a recent study of 5,000 gold jewelry buyers in key markets around the world, the organization found that in the U.S., two primary groups are most likely to buy gold jewelry. The WGC labels them Passionate Indulgents and Chic Stylists. These women are often committed to yellow gold – more than 60% of them prefer it in each group. Here are profiles of these two groups of customers, with suggestions on how you can increase your store’s appeal to them:

PASSIONATE INDULGENT

Profile – She’s probably married with children and has a significant household income. Home and family are her primary concerns (though she likely works too). She connects gold jewelry with special occasions and life passages, including birthdays and anniversaries. She loves to treat herself, but she’s also a big giver of gold jewelry as gifts to her family and friends. She’s strongly sentimental about the pieces she owns.

Method of Operation – This woman loves jewelry stores and likes to have a favorite jeweler. She’s into prestige brand names, believing they’re a better value. She’s also interested in the latest items. She usually buys yellow gold, though some women like her prefer white.

Plan of Attack – The World Gold Council says this woman is the most important target customer for gold jewelry. Appeal to her love of family and her tendency to give gifts in your ads and direct mail. Develop a relationship, including keeping her posted on new prestige-oriented lines. Remember, she wants to have a favorite jeweler who becomes her personal adviser. When she’s in the store, instruct sales associates to give her “permission” to buy – she likes to treat herself.

CHIC STYLIST

Profile – She has children, but she’s less likely to still be married and more likely to work full time. She depends on gold jewelry to help her create a modern and self-assured persona. She feels the right clothes and accessories help her attract admiration at work and socially. Though Chic Stylists have lower household incomes, they spend a greater percentage of it on gold jewelry.

Method of Operation – This woman shops in a broad range of boutiques and specialty and department stores. She loves designer names, enjoys getting a good deal and shops on impulse. She’s also primarily a yellow gold buyer, with some interest in white.

Plan of Attack – She has champagne taste but a smaller pocketbook so offer her highly chic but slightly less expensive designer items. In ads and direct mail, emphasize high fashion – this woman is more likely to read Vogue than Good Housekeeping. When depicting her in ads, show her out on the town with a new man rather than nesting at home. Encourage your sales associates to lead her to sexier dangles and flirtatious styles – she may be dating.

Copyright © 2003 by Bond Communications