JCOC Forecasts Holiday 2004 Trends
The 21% who plan to buy fine jewelry will spend significantly
Look for linear (a.k.a. stiletto) or drop earrings to dominate fine jewelry purchases this holiday season and beyond, according to the Jewelry Consumer Opinion Councils Trend Analysis and Style Forecast for Holiday 2004 & Spring 2005. JCOC conducted the study Sept. 23-30.
If I was betting, linear earrings are probably the most important trend for the holiday season and throughout 2005, Jeff Taraschi of Interactive Group Ltd. said in a virtual seminar detailing JCOCs findings. The seminar, available on the Web and by phone, was sponsored by MVI Marketing Ltd.
According to the study, cultured pearls and cocktail rings will sell well this holiday season also, and most respondents who plan to buy linear or drop earrings, pearls and cocktail rings say they will do so at independent jewelry stores and national chains. Diamonds, not surprisingly, are also predicted to be hot items for holiday purchases.
Just over one-fifth, or 21%, of respondents plan to buy fine jewelry as gifts, down from a June study that found 28.67% said they planned to do so.
In September, 49% were undecided compared with 37.16% who said they were undecided in June. The good news, said Taraschi, is that the 21% who plan to buy fine jewelry plan to spend significantly on it.
Taraschi and the other seminar participants, Liz Chatelain of MVI and Destini Gillham of JCOC, offered insights behind the study numbers and made suggestions to maximize retail sales during the holiday season.
Of the men who plan to buy jewelry, 86.7% said it will be a gift for spouses or significant others; only 37.8% of the women who plan to buy will do so
for spouses or significant others. However, these women do plan to buy jewelry for parents (39.5%) and children (47.8%). Salespeople should be prepared to suggest a variety of styles and price points to accommodate gift lists for all family members.
Buying for Themselves
Men and women who will buy for themselves comprise a strong category. Nearly a third of the men planning to buy jewelry said they were interested in buying for themselves, and 54% of the female respondents plan to buy for themselves.
Know the Trends
Higher-income respondents follow trends more closely, said Gillham. Cocktail rings, for example, are more appealing to upper-income respondents, which the study defined as having an annual household income of more than $55,000.
All data point to multimedia TV, movies, magazines, events helping consumers make choices, said Taraschi. Theyre coming into stores expecting to see the trends and will judge the viability of the store by whether it has those trends.
by Liz Smutko
||Long, linear earrings, such as these worn by actress Jennifer Garner at this years Emmys, are high on consumers radar screens for holiday 2004.