Jewelry Report 2011



Download table of contents, introduction, and methodology (PDF)

The Ultimate Guide to the Consumer Market for Fine and Costume Jewelry

In 2010, the U.S. jewelry market emerged from the recession, posting a dramatic 7.5 percent increase in consumer expenditures from 2009 to 2010, after two successive years of declining sales. Yet the jewelry market today is very different than it was back in 2006 and 2007 before the recession.

Jewelry makers and retailers expecting to pick up where they left off with the same products targeting the same consumers will find themselves in the lurch. This according to Unity Marketing’s latest Jewelry Report 2011, a new market research study based upon surveys conducted among recent jewelry buyers.

In 2010 the jewelry market recovered from the recession — But the post-recession jewelry market doesn’t look anything like the pre-recession market

“Since 2006 Unity Marketing has tracked dramatic changes in product and shopping preferences in the jewelry market,” explains Pam Danziger, president of Unity Marketing and author of Putting the Luxe Back in Luxury: How new consumer values are redefining the way we market luxury (Paramount Market Publishing, 2011).

“Among the most profound shifts the research uncovered is the growing demand for men’s jewelry. Over two-thirds of the growth in the jewelry market from 2008 to 2010 is directly attributable to increased expenditures on men’s jewelry.”

“The men’s jewelry market pre-recession was so small that it was difficult to make definitive assessments about men’s jewelry preferences. Today, that segment of the market has grown, and we can pinpoint the preferences men have about the jewelry they wear as well as the preferences of those who buy jewelry for them, with a level of detail designed to help manufacturers and retailers carefully target their product line.”

The latest study of the U.S. jewelry market includes:

  • Size of the costume and fine jewelry sector of the market
  • What’s hot and what’s not in terms of jewelry products, such as rings, necklaces and earrings or for men, tie tacks and cuff links.
  • What types of metal jewelry consumers favor today, including gold, sterling silver and platinum as well as various plated metals.
  • Where people shop for jewelry, including dramatic shifts away from jewelry stores toward a wider spectrum of shopping destinations including art galleries, department stores, warehouse club outlets and direct-to-consumer channels such as the internet and television shopping.

Further the report presents the latest demographics that describe the jewelry consumer market, and an in-depth look at the luxury sector of the jewelry market, which accounts for more than 50 percent of total industry sales, including which jewelry brands and national retailers the luxury shopper favors.

Marketers need to think outside of the traditional jewelry “box”

In order to build successful businesses in the future, jewelry marketers and retailers must take into account the many changes that their consumers have experienced coming out of the recession. Jewelry marketers have to be willing to challenge the old strategies and create new designs at new price points to be sold in new ways, Danziger cautions.

“Take jewelry designer Carol Brodie who against the conventional wisdom launched an exclusive high-end jewelry line called Rarities on HSN. By swimming against the tide, today Brodie’s line is reported to be HSN’s top-selling jewelry line by the trade publication Women’s Wear Daily. Jewelry marketers need to think outside of the traditional jewelry “box,” and open up to the many exciting possibilities to connect with consumers beyond the glass-cased jewelry store counter,” Danziger says. “This new study is vital for jewelry marketers and retailers to learn about their new customer and their new needs.”

New Consumer Insights about Jewelry Shoppers, What They Buy and Where They Shop

Unity Marketing has completed a new study of the jewelry consumer market based upon quantitative research study of jewelry buyers shopping preferences, behaviors and attitudes. This research study includes research data and statistics about:

  • Jewelry Market Size and Growth: What is the size of the jewelry market and how rapidly is it growing? How is the jewelry and watch market segmented by the type of jewelry product and material of composition?
  • Demographics of the Jewelry Market: What kinds of households buy jewelry and how do different demographic characteristics impact and influence jewelry buying behavior, (e.g.: HHI, size, composition, ethnicity/race, education, etc.); what are the different demographic segments within the jewelry market? How similar or different are households/consumers who purchase jewelry for personal use and for gifting.
  • Jewelry Buying Behavior: What are the primary characteristics of the consumers’ buying behavior related to jewelry and why they buy, e.g. for self or for gift? Where do they shop for jewelry? What jewelry items do they prefer? How much do they spend on particular types of jewelry? How do men and women differ in their jewelry shopping and buying behavior?

Specific Jewelry Data Included

This study examines both the fine and costume jewelry market segments, as well as the high-end luxury sector. It provides details about jewelry choices and spending in these major categories of jewelry:

  • Fine jewelry designed for men and women
  • Costume jewelry for men and women
  • High-end/Luxury sector of the jewelry market
  • For the fine jewelry category, detail data is also included about metal of composition, such as fine gold, platinum, sterling silver; and gemstones, such as diamonds, precious gemstones, such as rubies, emeralds, etc., pearls, and semi-precious stones, such as amethyst, topaz, etc.

It explores what type of jewelry is bought within each category, such as necklaces, earring, bracelet, brooches and pins and how much shoppers spend on specific fine jewelry pieces. Through the level of purchase detailed analyzed, marketers and retailers can discover the typical pricing parameters for each type of jewelry based upon what the typical jewelry buyer spends.

Jewelry Shoppers and Their Shopping Preferences Are Also Examined

The study is of great value to jewelry retailers, both those that already compete in the category and those that want to grow their share of the market. It reveals the stores where jewelry consumers prefer to shop, including the primary shopping destinations for jewelry consumers, including:

  • Department stores
  • Discount stores
  • Specialty independent jewelers
  • Chain jewelry stores
  • Fashion clothing stores
  • Non-stores, including mail order, television and internet

This important new research study is an investment in the future of jewelry marketers and retailers. It provides data and insight so that jewelry marketers and retailers can maximize their opportunities in the jewelry market today, as well as to plan for their future.

Special Features in Jewelry Report, 2011

Included in this report are:

  • Brand preferences in high-end/luxury jewelry
  • Profile of the affluent, luxury consumer market for jewelry, newly updated with data from the Luxury Report 2011.
  • Powerful guidance for retailers and marketers in pricing of different jewelry items, based upon research findings of what the majority of consumers are paying today when they make their purchases.

July 2011 (~125 pages)

Published Price: $1,995


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