February 18, 2005
Hispanic Consumers Will Spend $1.5 Billion on Fine Jewelry in 2005
Almost 75% of Hispanic consumers studied by Jewelry Consumer Opinion
Council say they already own fine jewelry, and more than 45% of them
will spend more than $500 on a fine jewelry purchase in the next
twelve months. The new JCOC study, entitled The Hispanic Jewelry
Market in the USA: The Hidden Giant, shows the Hispanic jewelry
market is an untapped market with tremendous potential, due to the
fact that 39 million Hispanic consumers reside in the U.S. The
Hispanic market is the fastest growing consumer group in the
Not surprisingly, the study indicated that as Hispanic income
increases, the likelihood of fine jewelry ownership increases,
although all income groups have high purchase intent across a wide
variety of price points. The survey covers fine jewelry buying
habits, attitudes and expectations, as well as where they shop, why
they buy and how much they have spent and plan to spend.
While the study reveals high interest in religious jewelry within the
Hispanic community, it also indicates their strong desire for
diamonds and fashion jewelry - including their feelings on right-hand
rings and three-stone diamond jewelry, as well as other cultural
imperative gift occasions that currently remain largely unaddressed
by the jewelry industry.
For full details of the survey, visit www.jcoc.info.