April 26, 2005
Research Suggests Jewelers Have a Mother's Day Opportunity
More than 55% of respondents to a study conducted by the Jewelry Consumer Opinion Council plan to buy a Mother's Day gift, with flowers and jewelry almost tied as the most popular gift choice this year. Flowers saw a sharp decline in popularity, chosen by only 17%, down from 30% last year; while fine jewelry was chosen by 17%, up from 15% in 2004. The largest percentage of respondents, 42%, is unsure what to purchase for mom, indicating great opportunity for clever jewelry marketers. The survey was conducted from March 25-31.
About 15% of respondents say their moms don't want jewelry and another 15% find their buying inhibited because they don't know what their moms like. This suggests the creative use of "wish lists" obtained from female clients and given to their family members could make a difference in sales. Nearly 32% of the moms in the study say that if asked, they'd suggest jewelry as their gift for Mother's Day.
A gift of diamonds was chosen by 39% of moms polled. Close to 8% say they would like sapphire, a birthstone or plain metal jewelry. Most moms, nearly 44%, prefer yellow gold, and a quarter like white gold. Earrings topped the list of favorite jewelry, followed by fashion rings, bracelets and necklaces.
Retailers should note that most respondents plan to purchase their gift one or two weeks before the day, earlier than they did last year. National jewelry chain stores and local independent fine jewelers are the top shopping venues.
The study suggests that, at least for this consumer group, price points should remain low. The majority of respondents plan to spend under $300 on fine jewelry for mom. Jewelers should promote a variety of diamond, gem-set and gold jewelry classics in the popular price range of $100-$300, consider special packaging/gift presentation and provide guidance in helping customers select the perfect present for mom.
Destini Gillham, market research manager for JCOC, says shoppers aren't showering attention only on mom, but also daughters, grandmothers, wives and friends. Moreover, as recent studies have shown the strength of the female buying for herself, a woman shopping for jewelry for a Motheršs Day gift may be inclined to pick something up for herself at the same time.
A study by the National Retail Federation jibes with the JCOC research, indicating that retailers such as florists, jewelers and greeting card stores are expected to see the highest amount of traffic, with over 33% of consumers planning to purchase Mother's Day gifts at a specialty store.
For full details of the JCOC study, including general jewelry buying habits and economic confidence levels for the month of March, go to www.jcoc.info. JCOC can provide custom research studies on a full range of jewelry topics, and can also be reached via email at email@example.com. JCOC, an Internet-based niche market research service exclusive to the gem and jewelry industries, was founded in 2001 by MVI Marketing Ltd., Paso Robles, CA.