October 13, 2006
JCOC: Entertainment, Travel, Home Improvements Could Squeeze Fine Jewelry and Watch Sales
PASO ROBLES, Calif. - Consumers this holiday season are looking forward to entertaining, traveling, and improving their homes, according to 2,792 respondents to a Jewelry Consumer Opinion Council (JCOC) survey conducted between Sept. 29 and Oct. 4, 2006. Half of JCOC panelists plan on spending up to $300 on entertaining, with another quarter expecting to dole out $1,000 or more on Christmas cheer. Over a quarter of JCOC respondents plan to travel for the holidays, while another quarter is looking to make home improvements, with 66 percent planning to spend more than $500. All of these purchases are vying for holiday discretionary dollars that could be going to fine jewelry and watch gifts.
Savvy jewelry marketers could divert these consumers away from these purchasing possibilities, as well as nurture a solid base of ready buyers with visions of necklaces, bracelets, and watches dancing in the heads.
There is greater interest in fine jewelry and watch purchases among JCOC respondents this year, with over a quarter planning to purchase these products for the holidays, up from 21 percent at this time in 2005, with almost three quarters intending to spend between $100 and $1,000 on jewelry.
In fact, almost a third say they expect to spend more on jewelry gifts than they did last year.
Elizabeth Chatelain, president of MVI Marketing, encourages jewelry retailers and product brands to flex their marketing muscles this year, as opportunities exist for strong holiday sales. She reminds jewelers to include niche markets in their efforts, such as men, youth, and female self-purchasers‹sorely overlooked for add-on sales last holiday season. She also notes that the peak sales period runs from Black Friday through the second week of December.
JCOC, a division of MVI Marketing, is a U.S. and Canadian e-panel of consumers who represent all ages, genders, income levels, buying categories, and geographic regions. To learn more, visit www.jcoc.info, or contact Elizabeth Chatelain at 805-239-2994, ext. 104; fax 805-239-2947, or e-mail firstname.lastname@example.org.