Table of Contents
Scope and Themes
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- What you need to know
- Definition
- Data sources
- Sales data
- Consumer survey data
- Abbreviations and terms
- Abbreviations
Executive Summary
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- Overview
- A market in decline
- Jewelry stores remain the primary channel
- Multi-tiered marketing strategies
- Diverging purchase behavior and tastes
Insights and Opportunities
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- Spiritual and “meaning” jewelry
- Ethical jewelry
- Diamonds redefined
- Jewelry for men
Fast Forward Trends
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- Trend: Hire Hire
- What’s it all about?
- Renting beyond the Red Carpet
- Economic benefits
- Close to home
- Trend: World Gone Green
- What’s it all about?
- Luxurious green
- Look at me green
Market Size and Forecast
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- Future growth likely to be tempered by weak economy
- Less for more
- Race to the top
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- Figure 1: Total U.S. sales and forecast of jewelry, at current prices, 2002-12
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- Figure 2: Total U.S. sales and forecast of jewelry, at inflation-adjusted prices, 2002-12
Competitive Context
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- Redefining value
- It’s all about accessorizing
- A new global marketplace
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- Figure 3: Global and U.S. revenue for leading luxury brands, 2006
- Preserving their independents
Segment Performance—Overview
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- Market focus shifts to high end products
- Pinched in the hourglass
- The most bang for the buck
- U.S. sales and forecast of jewelry
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- Figure 4: U.S. sales and forecast of jewelry, at current prices, by segment, 2002-12
- Figure 5: U.S. sales of jewelry, by segment, 2005 and 2007
Segment Performance—Gemstone Jewelry
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- Gemstones continue growth, despite poor economy
- Diamonds are forever, but colored stones are for fun
- U.S. sales and forecast of gemstone jewelry
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- Figure 6: U.S. sales and forecast of gemstone jewelry, 2002-12
Segment Performance—Costume Jewelry
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- Costume sales struggle, future area for potential growth
- Fashion’s victim
- Short-term impact from lead scandal
- U.S. sales and forecast of costume jewelry
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- Figure 7: U.S. sales and forecast of costume jewelry, 2002-12
Segment Performance—Karat Gold Jewelry
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- High cost hurts karat gold segment
- Gold prices hit the ceiling
- U.S. sales and forecast of karat gold jewelry
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- Figure 8: U.S. sales and forecast of karat gold jewelry, 2002-12
Segment Performance—Watches
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- Watches enjoy steady growth
- The sky’s the limit
- Creating a watch wardrobe
- U.S. sales and forecast of watches
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- Figure 9: U.S. sales and forecast of watches, 2002-12
Segment Performance—Other Jewelry
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- Interest in alternative metals drives “other” jewelry sales
- Silver is no longer second best
- Palladium gains in popularity
- U.S. sales and forecast of other jewelry
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- Figure 10: U.S. sales and forecast of other jewelry, 2002-12
Retail Channels—Overview
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- Key points
- HNW audience, gift buyers maintain jewelry stores
- Sales of jewelry by retail channel
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- Figure 11: U.S. sales of jewelry, by retail channel, 2005 and 2007
- Retail channel choices shift by demographic
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- Figure 12: Retail channels through which jewelry is purchased, by gender, age and household income, November 2007
Retail Channels—Jewelry Stores
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- Key points
- Both sides of the hourglass
- New strategies for new competition
- Sales of jewelry at jewelry stores
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- Figure 13: U.S. sales of jewelry at jewelry stores, 2002-07
Retail Channels—Department and Clothing Stores
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- Key points
- Department stores in the decline
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- Figure 14: Shopping behavior at leading department stores, 2007
- Sales of jewelry at department stores
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- Figure 15: U.S. sales of jewelry at department stores, 2002-07
- Sales of jewelry at clothing stores
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- Figure 16: U.S. sales of jewelry at clothing stores, 2002-07
Retail Channels—Discounters and Mass Merchandisers
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- Key points
- A season for savings
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- Figure 17: Shopping behavior at leading discount stores, 2007
- Sales of jewelry at discounters and mass merchandisers
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- Figure 18: U.S. sales of jewelry at discounters and mass merchandisers, 2002-07
Retail Channels—Non-Store and Other Retailers
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- Key points
- Going wide on the Web
- A starring role for TV
- Sales of jewelry at non-store and other outlets
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- Figure 19: U.S. sales of jewelry at non-store outlets, 2002-07
- Figure 20: U.S. sales of jewelry at other stores, 2002-07
Market Drivers
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- An economy in decline
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- Figure 21: Consumer sentiment index, 2001-07
- Skyrocketing prices for raw materials
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- Figure 22: Average annual London fixed prices for precious metals, 2002-08
- HNWIs and the “hourglass effect”
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- Figure 23: Number and assets of individuals with household assets of $1m or more, 2002-06
- Declining marriage rates
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- Figure 24: Number of marriages in the U.S., 2002-06
Leading Companies
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- Key points
- Overview
- Future growth opportunities and trends
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- Figure 25: Sales of leading jewelry companies, 2005 and 2006
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- Figure 26: Luxury jewelry and watch brands owned, by gender, age and household income, November 2007
Brand Qualities
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- Cartier
- H. Stern
- Tiffany & Co.
- Zales
Innovation and Innovators
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- David Yurman
- Subversive Jewelry
- FemmeGems
Advertising and Promotion
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- Overview
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- Figure 27: Advertising spending by leading jewelry and watch retailers, 2005 and 2006
- Advertising strategies
- Television advertising
- A Diamond is Forever/De Beers
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- Figure 28: Diamond is Forever Journey Necklace TV ad, 2007
- Helzberg
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- Figure 29: Helzberg Diamonds TV ad, 2007
- Macy’s
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- Figure 30: Macy’s Jewelry TV ad, 2007
- Rolex
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- Figure 31: Rolex Watch TV ad, 2007
- Zales
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- Figure 32: Zales TV ad, 2007
Items of Jewelry Purchased
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- Fine jewelry purchased
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- Figure 33: Mean number of items of fine jewelry purchased in past 12 months, by reason for purchase, by gender, age, household income and race/ethnicity, March 2008
- Watches purchased
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- Figure 34: Mean number of watches purchased in the past 12 months, by reason for purchase, by gender, age, household income and race/ethnicity, March 2008
Jewelry Purchases
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- Types of jewelry purchased
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- Figure 35: Types of jewelry purchased in past 12 months, by gender, March 2008
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- Figure 36: Types of jewelry purchased in past 12 months, by age, March 2008
- Earrings
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- Figure 37: Types of earrings purchased in the past 12 months, by gender, March 2008
- Necklaces
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- Figure 38: Types of necklaces purchased in the past 12 months, by gender, March 2008
- Bracelets
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- Figure 39: Types of bracelets purchased in the past 12 months, by gender, March 2008
- Rings
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- Figure 40: Types of rings purchased in the past 12 months, by gender, March 2008
Buying Behavior
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- Retail channels most frequently used for jewelry purchase
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- Figure 41: Channels through which jewelry is purchased most often, by gender, March 2008
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- Figure 42: Channels through which jewelry is purchased most often, by age, March 2008
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- Figure 43: Channels through which jewelry is purchased most often, by household income, March 2008
- Factors influencing jewelry purchase
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- Figure 44: Factors influencing jewelry purchase, by gender, March 2008
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- Figure 45: Factors influencing jewelry purchase, by age, March 2008
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- Figure 46: Factors influencing jewelry purchase, by household income, March 2008
Attitudes and Motivations
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- Attitudes towards buying jewelry
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- Figure 47: Attitudes towards buying jewelry, by gender, March 2008
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- Figure 48: Attitudes towards buying jewelry, by household income, March 2008
- Reasons for jewelry purchase
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- Figure 49: Reasons for jewelry purchases, by gender, March 2008
- Satisfaction with jewelry purchase
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- Figure 50: Levels of satisfaction with jewelry purchase, by gender, age, household income and race/ethnicity, March 2008
Wedding Jewelry
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- Figure 51: Types of wedding jewelry purchased, March 2008
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Cluster Analysis—Brand Seekers, Bargain Hunters, Chain Store Buyers
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- Insight
- Brand Seekers
- Bargain Hunters
- Chain Store Buyers
- Cluster characteristics
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- Figure 52: Jewelry clusters, March 2008
- Figure 53: Reasons for the jewelry purchase, by clusters, March 2008
- Figure 54: Purchasing habits, by clusters, March 2008
- Cluster demographics
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- Figure 55: Jewelry clusters, by gender, March 2008
- Figure 56: Jewelry clusters, by age, March 2008
- Figure 57: Jewelry clusters, by income, March 2008
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- Figure 58: Jewelry clusters, by race/ethnicity, March 2008
- Methodology
Custom Consumer Groups
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- Figure 59: Purchase incidence of fine jewelry (number of items), by custom female groups, March 2008
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- Figure 60: Types of jewelry purchased, by custom female groups, March 2008
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- Figure 61: Channels through which jewelry is purchased most often, by custom female groups, March 2008
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- Figure 62: Attitudes towards buying jewelry, by custom female groups, March 2008
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Appendix: Other Useful Consumer Tables
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- Separate jewelry item purchases for self and for others
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- Figure 63: Items of jewelry purchased for self in the past 12 months, by gender and age, March 2008
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- Figure 64: Items of jewelry purchased for someone else in the past 12 months, by gender and age, March 2008
- The impact of household income on types of jewelry purchased
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- Figure 65: Types of jewelry purchased, by household income, March 2008
- Attitudes towards buying jewelry by respondent age
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- Figure 66: Attitudes towards buying jewelry, by age, March 2008
Appendix: Trade Associations
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