September 7, 2006
No Jewelry for Christmas, Poll Says
Only 15% of American consumers plan to buy jewelry as gifts for the holidays, a poll by Money Magazine and market research firm ICR shows.
Women (14%) and men (15%) both said they were unlikely to purchase jewelry for Christmas. In addition, only 4% of respondents over the age of 55 said they would buy jewelry versus 19% for those under 55.
As for how much potential jewelry buyers plan to spend, people with household incomes of $75,000 and more (41%), people under age 35 (30%) and people with college degrees (27%) were most likely to buy jewelry priced over $1,500. More common, 41% of respondents said they would never spend more than $250 on a piece of jewelry, holiday or not.
In addition, the survey tested whether consumers would substitute less expensive metals to save money. Of the respondents, 42% said they would opt for palladium, titanium or stainless steel as opposed to the 45% who said they would stick strictly with gold, silver and platinum.