October 20, 2003
Jewelry in Holiday Plans for Many Consumers
Despite uneasy feelings about the economy, many consumers place jewelry high on their shopping lists for the 2003 holiday season. According to the Jewelry Consumer Opinion Council, which surveyed 3,412 consumers Sept. 29- Oct. 9, about 21% of consumers say they plan to purchase jewelry this holiday season, with nearly 60% thinking about it and open to the idea.
Of those who will purchase jewelry, just over half say they will buy it for someone as a gift, 25% will purchase jewelry for themselves and 24% are not yet sure about their purchase plans.
Price and the design of the jewelry will equally influence buying plans, say those consumers surveyed. Thirty-four percent say these two factors will be critical. Twenty-three percent look for quality before they buy, 5% seek a large selection and 3% ask about the warranty. These consumers did not note brand name, credit options or return policies as significant factors in their jewelry purchasing plans.
Jewelry purchasing remains a tactile shopping experience for most consumers. The greatest numbers of consumers (12% to 17%) will seek a retail store, ranging from a local independent to a national retailer, rather than buy via television, internet or catalog.
At the top of the season's wish list for these consumers are diamond earrings, fashion jewelry and colored gemstone-with-diamond jewelry. Of those planning to purchase jewelry, 43% plan a purchase priced between $101 and $500, while some (33%) will opt for the lower-priced items. About 11% weren't sure of their price range and 9% planned to spend between $501 and $1,000.
The sample of consumers for the study, conducted via e-mail by MVI Marketing, represent all age levels, income levels, buying groups and geographic areas.
by Michael Thompson