April 6, 2005
Women Increasingly Buy for Themselves, Says Study
More than 70% of consumers surveyed by the Jewelry Consumer Opinion Council say they have bought fine jewelry for themselves. Women make up 80% of the survey pool. The JCOC survey of 3,391 panel members also found 15% of those surveyed planned to buy themselves fine jewelry within the next six months.
Eighty percent of those surveyed say they are likely to purchase jewelry for themselves any time they see something they like, with more than half likely to do so while shopping for jewelry for others, creating a selling opportunity for retailers, says JCOC. Nearly half of those surveyed say they purchase fine jewelry for themselves for no special reason, and just over 21% would do so to add to their collections. Almost 42% of respondents say advertisements influence their decisions.
"The self-purchase is a prime marketing target for retailers," says Destini Gillham, JCOC market research manager. "Ads need to appeal to consumers who are shopping for themselves for no special reason other than they love beautiful jewelry. The self-purchaser want fashion-conscious diamonds and colored gemstone jewelry."
The top venues for those purchasing jewelry for themselves include national jewelry chain stores and local independent jewelers, while 13.5% favored Internet shopping. Price points tend to be higher for self-purchases than for other jewelry puurchases, says JCOC.