Jewelry Report, 2006 Update: The Who, What, Where, Why and How Much of Jewelry Shopping
Jewelry is the ultimate luxury and today's jewelry shopper is driven by an experiential passion that goes far beyond the item's features and benefits - They buy jewelry based upon emotion, not reason
In 2005 American consumers spent $59.4 billion buying jewelry and watches, posting a dramatic 10.2 percent two-year growth trend. As a category in the durable goods segment, jewelry and watches outperformed the overall durable goods sector, which only rose 8 percent in the same two-year period.
Jewelry and watches were purchased by about half of U.S. consumers in the study period, with 'twenty-something' to 'fifty-something' women with higher incomes representing the core target market.
For the last several years discounter Wal-Mart has been the nation's #1 retailer of jewelry, despite the fact that the prime target market for jewelry - high-income women from 25 to 54 years - are the least likely of all consumers to shop for jewelry in discount channels.
How are jewelry marketers and retailers to understand this dichotomy in the marketplace - that the nation's top discount sold more of the ultimate luxury good than any other store and that lower-income shoppers who spend under $100 on each item of jewelry bought have propelled Wal-Mart to their #1 position?
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 in-depth qualitative focus group research and a 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; how do they decide to purchase one piece vs. another; how do they set a budget for jewelry buying; what is the role of brand in jewelry buying behavior; how much do they purchase and how much do they spend on key categories of jewelry. How do men and women differ in their jewelry shopping and buying behavior?
· Psychographic Profile and Segmentation of the Jewelry Market: The psychographic profile of jewelry consumers will reveal their different drives and motivations in purchasing jewelry; what factors are more or less important in driving jewelry purchasing decisions; how can jewelry marketers and retailers better understand the hearts and minds of their consumers. In essence, we will discover "why people buy jewelry."
Specific Jewelry and Watch Data Included
This study examines both the fine and costume jewelry market segments, as well as the preferences and behaviors of gift buyers and jewelry self-purchasers. It provides details about jewelry choices and spending in four major categories of jewelry:
· Fine women's jewelry and watches
· Fine men's jewelry and watches
· Women's costume jewelry and watches
· Men's costume jewelry and watches
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 items of jewelry. 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
Details about different types of jewelry shoppers are included, with special emphasis on the differing motivations and buying behavior of men and women, as well as gift buyers as compared with self-purchasers.
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 top ten jewelry retailers led by Wal-Mart, as well as the nation's leading jewelry retailers in these categories:
· Department stores
· Discount stores
· Chain jewelry stores
· Fashion clothing stores
· Non-stores, including mail order, television and internet
The report reveals why shoppers choose the stores that they do to shop for jewelry. It explores many strategies for retailers to capture greater share of the jewelry shoppers' wallet.
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, 2006 Update
Included in this report are:
· Profile of the affluent, luxury consumer market for jewelry and watches, including luxury jewelry and watch brand awareness and usage.
· 12 research-based Business Building Tactics to help jewelry marketers and retailers grow a more vibrant business.
· 7 major Marketing Opportunities that will mean greater success for jewelry companies and retailers that develop strategies to take advantage of these emerging opportunities.
June 2006 (185+ pages)
Published Price: $2,500
|
