It’s the Signet-owned banner’s first location in Georgia.
Forget Millennials, Meet the ‘Midult’
Generation X females between the ages of 35 and 55 have an awful lot of buying power, but experts say they’re being neglected in the fine jewelry market.
New York--Millennial spending habits have been discussed and analyzed ad nauseam over the past several years, and, according to experts, this laser focus may be to the detriment of retailers.
At the Vicenzaoro trade show held in January, Paola De Luca, creative director of trend forecasting company Trendvision, emphasized a different demographic of shoppers that she contends have been neglected by the jewelry industry: the “midult.”
The midult is a woman De Luca describes as being between the ages of 35 and 55 and having spending power.
“When we are 35 to 55, or even 60,” De Luca explained, “we have more money. We already have the basics (in our wardrobe). Now we want the collector piece and we are willing to spend more money for it.”
A midult essentially describes a Generation X female, born between 1960 and 1980.
After millennials and baby boomers, Gen X is the third largest generation in America, according to a report by media management software company Centro. They make up 25 percent of U.S. adults at a population of 60 million.
(Though Centro’s study doesn’t break down the demographic group into percentage of females versus males, in MetLife’s latest study on the group done in 2009, the firm had it split pretty evenly at 50-50).
Centro cites a statistic from an American Express and Harrison Group study, saying that Gen X represents 29 percent of net worth dollars and 31 percent of total income dollars in the country, making it the generation with more spending power than any other.
The term “midult” is trademarked by a British media website of the same name that caters content to middle-age women. (According to De Luca, these women make up the most powerful consumer group in the U.K., with eight million falling into this category.)
In its mission statement, The Midult website says it represents, “a new definition for a new generation … We wanted to take a fresh look at the power and potential of women like us: funny, digitally literate, and extremely anxious.”
They’re definitely correct on the digitally literate aspect.
While not raised with the internet, Gen X has embraced it wholeheartedly. According to trend forecasting company WGSN, 84 percent of British 35- to 44-year-olds are daily internet users, compared to 82 percent of British millennials.
And earlier this year, The New York Times published a story on the results of a Nielsen study that found that
“The digital impact from millennials has worked its way upstream to older demographics, and it is key for retailers and manufacturers to understand the giant digital footprint this segment maintains,” said Ben Smithee, CEO of digital marketing consultancy The Smithee Group.
The Self-Purchasing Customer
While luxury markets continuously look for ways to connect with millennials who prioritize spending on experiences, the fine jewelry industry may be better served by paying attention to their generational predecessors.
“In my view, the ‘midult’ woman is the most powerful and overlooked customer of fine jewelry today,” said Amanda Gizzi, Jewelers of America’s director of public relations and events. “She has been in the work force for over fifteen years and is established in her career. She makes her own money and isn’t afraid to spend some of it on herself.”
As retirement becomes more delayed, the midult consumer only gains strength.
“The digital impact from millennials has worked its way upstream to older demographics, and it is key for retailers and manufacturers to understand the giant digital footprint this segment maintains.”--Ben Smithee, The Smithee Group.Their purchasing power can be shown in examples such as that of Moda Operandi, the e-commerce company that specializes in online “trunk shows” and allows customers to pre-order looks straight off fashion runways. According to De Luca, the midult is the target woman for the luxury e-tailer.
“(Moda Operandi products are) selling online for thousands of euros or dollars, and they’re targeting these women. Yes, there’s a millennial market, but very few girls who are 25 years old can buy a $5,000 dress,” she said.
In its “The Faces of the New Jewelry Consumer” report published last September, luxury and jewelry consumer market research firm MVI Marketing cited a study conducted by American Express and the Harrison Group that said a quarter of women in households with at least $100,000 of discretionary income had purchased jewelry for themselves, not just for an event.
“The self-purchasing woman is being ignored or underserved by the traditional jewelry industry and as such she’s going elsewhere to purchase jewelry, not in traditional specialty jewelry retail stores but in department stores and non-traditional spaces,” MVI CEO Marty Hurwitz said.
Hurwitz noted that a self-purchasing midult buys to accessorize and is doing so with pieces that are trendy, colorful and retail for between $95 and $995, with the younger Generation X consumers purchasing at the low end of that price range, and vice versa.
Yet traditional jewelry stores lack color, he added, because white diamond jewelry makes up such a large part of inventory. He said there is also an absence of styles that use color at price points the majority of self-purchasing women want to buy.
Hurwitz thinks that the fine jewelry industry can learn from other retail sectors such as shoes.
“The same self-purchasing consumer is buying four to six pairs of shoes a year on average from an array of different stores and online vendors and at a wide range of price points. Jewelry has done nothing to go after that woman. We can’t even get them to buy one product a year,” Hurwitz said.
“We need to find ways to cater to what is a very significant spending population that is willing to spend on shoes and handbags and belts and clothing consistently throughout the year. They just don’t really spend that much on jewelry because nobody is inviting them to do it.”
Finding Solutions
With generations spanning 20 years, there are, of course, nuances to be found within demographics.
Smithee explained that millennial lifestyle trends, like living at home longer, also are reflective of those at the younger end of the Generation X spectrum, a factor on which jewelers can capitalize.
“We need to find ways to cater to what is a very significant spending population that is willing to spend on shoes and handbags and belts and clothing consistently throughout the year. They just don’t really spend that much on jewelry because nobody is inviting them to do it.”-- Marty Hurwitz, MVI“You have a great hybrid of older millennials, now in their mid-30s, and younger Gen Xers who provide a large set of disposable income,” he said. “This cohort represents the most pivotal changes in life stages when it comes to opportunities for jewelers to create a meaningful relationship. From delayed marriages, child birth, anniversaries and self-purchasers, this segment provides the most opportunity for jewelers to convert sales now.”
Hurwitz suggested looking to brands that are finding success--like Kendra Scott, Alex and Ani, Pandora and the Australian Emma & Roe--and emulating their businesses, which rely on collecting, layering and stacking jewelry.
JA’s Gizzi, meanwhile, stressed that midults rely both on online shopping and in-person store experiences.
RELATED CONTENT: Why Omnichannel Retail is Key to Success in 2017
“Like most generations today, midult women are researching and shopping online, so having a strong web and social media presence is a no-brainer,” she said. “However, don’t overlook the power of having an in-person presence in the community. They are more likely to have loyalty to those who are in front of them and to whom they have a personal connection. These women are the gift givers. They want to treat those around them with special gifts and they are also more likely to treat themselves too.”
They’re also loyal to brands.
A 2011 Wall Street Journal article on the phenomenon of the self-purchasing customer concluded that stocking trusted brand names, from Todd Reed to Ippolita, is key to earning these consumers’ trust.
Experts interviewed for this article agree that millennial and even Generation Z spending habits should be paid attention to, but so should the buying patterns of the generation that came before them.
Gizzi concluded, “(The midult) grew up before the rise of the internet, yet is young enough to be fully immersed in all technological advancements. She expects high levels of customer service and rewards the stores and brands who offer it.
“Most importantly, she grew up with parents who deeply loved jewelry and all it stands for. That love was likely passed down to her and if the jewelry industry treats her well, she will pass that love down to her children.”
The Latest
![These “Double Loop” earrings feature a drop-cut amethyst sitting atop the lower hoop, totaling 1.60 carats between both earrings. The hoops are made of silver covered in “pistacchio” colored enamel, while 9-karat yellow gold holds the stones in place and connect the two hoops behind the earlobe ($1,770). Bea Bongiasca’s Double Loop Earrings](https://uploads.nationaljeweler.com/uploads/f338ef6b4603be3c97765f833b831ca0.jpg)
Commemorate “brat summer” with these green hoops.
![The skyline of downtown Providence, Rhode Island. Jewelers of America held one of its Multifacted Learning Workshops there on July 17 and National Jeweler Editor-in-Chief Michelle Graff tagged along. Stock image of Providence, Rhode Island, skyline](https://uploads.nationaljeweler.com/uploads/4ec5b02d4cbaaaa2283bdcf6820950a4.jpg)
Editor-in-Chief Michelle Graff returns from Rhode Island with thoughts about in-store shopping and a trends report.
![Untitled design.jpg](https://uploads.nationaljeweler.com/uploads/583fbcb2bb839782810080debef35d3c.jpg)
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
Sponsored by Gemological Institute of America
![](https://uploads.nationaljeweler.com/uploads/99a46b30cc354962ac2e29ecd113587a.jpg)
![Earlier this month, online giant Amazon and the Better Business Bureau filed a joint federal lawsuit against ReviewServiceUSA.com for allegedly selling fake reviews, both positive and negative. Amazon package outside door](https://uploads.nationaljeweler.com/uploads/27fce4225a38900d54a5536ce523a22d.jpg)
They claim ReviewServiceUSA.com was selling both positive and negative reviews of products and businesses.
![A shot of the Venetia diamond mine in South Africa, owned by De Beers Group. The diamond miner and marketer saw revenue drop 21 percent and rough diamond sales decline 20 percent in a “weak” market for diamonds. De Beers’ Venetia diamond mine](https://uploads.nationaljeweler.com/uploads/a1f16ceaaba662e80385166060d192a7.jpg)
Lab-grown diamond sales in the United States and ongoing economic challenges in China are impacting natural diamond demand.
![1872 x 1052 Gemolite.jpg](https://uploads.nationaljeweler.com/uploads/9d60901b44425a53b9010301897a3bbc.jpg)
GIA®’s most advanced microscope has new features to optimize greater precision and comfort.
![A malachite and diamond bracelet from Pomellato’s “Pom Pom Dot” collection, launched earlier this year. Pomellato and Boucheron were bright spots for Kering in an otherwise underwhelming first half of the year. Pomellato Malachite Pom Pom Dot bracelet](https://uploads.nationaljeweler.com/uploads/3c237b62e009742fc52487097daf3c5a.jpg)
The gains come amid a tough time for parent company Kering, which saw sales slide 11 percent in the first half of the year.
![Volunteers and Shane Co.’s corporate team from all 22 locations of the family-owned jewelry chain have begun packing backpacks with school supplies for teachers to distribute to their students this school year. Shane Co. and the Kids in Need foundation logo](https://uploads.nationaljeweler.com/uploads/1c5abfb36ec775724f014f47bfbb47fc.jpg)
The fine jewelry retailer filled backpacks with back-to-school essentials for students in 13 states.
![A shot from the advertising campaign for LVMH-owned Bulgari’s “Eden the Garden of Wonders” high jewelry collection. LVMH’s jewelry and watch sales slipped in the first half of the fiscal year. Bulgari high jewelry campaign](https://uploads.nationaljeweler.com/uploads/c24eb75ca8cea44d2e9859648f4a98ee.jpg)
Tiffany & Co. is focusing on its “iconic” collections while the company has made changes at the top at TAG Heuer and Hublot.
![Chaumet, a Parisian jeweler owned by LVMH, has designed the Olympic and Paralympic Games medals. Chaumet Paris 2024 Olympics medals](https://uploads.nationaljeweler.com/uploads/7831b3a738baddfc7d783e6df0fbf796.jpg)
The Parisian brand is the first jewelry company in the history of the Olympic and Paralympic Games to design the medals.
![The acquisition of Union Life & Casualty by Jewelers Mutual will help strengthen both the pawn market and the insurance industry, said JM. Jewelers Mutual and Union Life and Casualty logos](https://uploads.nationaljeweler.com/uploads/195925667226ecfc51b4e1bb09607143.jpg)
Union Life & Casualty will join JM Insurance Agency Partners, expanding the provider’s pawnbroker coverage.
![The winner of this year’s Lonia Tate scholarship, Bradlei Smith will receive the opportunity to earn her Graduate Gemologist diploma from GIA and, following graduation, an internship at Ben Bridge Jeweler in Seattle. Bradlei Smith](https://uploads.nationaljeweler.com/uploads/996834935ae30a7a1195db8b9db6cb7d.jpg)
Los Angeles-based Bradlei Smith was selected for this year’s award.
![Peter Smith is an industry consultant, speaker, sales trainer, and author. He can be reached via email at TheRetailSmiths@gmail.com. National Jeweler columnist Peter Smith](https://uploads.nationaljeweler.com/uploads/bec7295a7f478778b1c196e6d81e7cd9.jpg)
In his latest column, Smith shares multiple reasons why people who look at the glass as being hall full often make better salespeople.
![De Beers Group mined 6.4 million carats of diamonds in the second quarter of 2024, down from 7.6 million in the same period last year. (©De Beers Group/Photo credit: Ben Perry @ Armoury Films) De Beers rough diamond display](https://uploads.nationaljeweler.com/uploads/80cd02b1c8384f4b2efda0bcdf6a75e1.jpg)
The company also reported the $150 million sale of an iron ore royalty right, part of its ongoing effort to divest “non-core” assets.
![L.A.-based flower designer, Sophia Moreno-Bunge models Guzema’s “Hidden Beauty” collection in front of a garden in Rustic Canyon in Santa Monica, California. Sophia Moreno-Bunge of Isa Isa modeling Guzema’s Hidden Beauty collection](https://uploads.nationaljeweler.com/uploads/6f3822623eb7fd2f6468f82825194cb1.jpg)
The ad features three celebrity florists creating floral sculptures while wearing jewelry by Guzema.
![The Entrepreneurship Grants program supports winners with financial aid to scale their businesses and increase their societal impact, said Diamonds Do Good. Pictured here are three of the 13 winners, top right is Tresia Shituula, and bottom row left to right, are Monkgogi Moshaga and Mohamed Samu. Tresia Shituula, Monkgogi Moshaga, Mohamed Samu](https://uploads.nationaljeweler.com/uploads/a7c9b87301b76a9446f6522747ce5b95.jpg)
The grant provided a total of $100,000 to support 13 entrepreneurs from diamond communities in Africa and India.
![Ghazi Osta, better known as Gus, was the owner and president of Volusia Gold & Diamond, a store he and his wife, Leigh Osta, opened in 1986. He was shot and killed inside the store Friday afternoon after a brief argument with a regular customer. (Photo courtesy of Volusia Gold & Diamond Facebook page) Ghazi “Gus” Michel Osta](https://uploads.nationaljeweler.com/uploads/c8c1fa3df746cbd364915a98dcac9d21.jpg)
Ghazi Michel Osta, or “Gus,” was killed Friday by an 83-year-old man said to be a frequent customer at his store, Volusia Gold & Diamond.
![Elyssa Jenkins-Pérez (left) is the Responsible Jewellery Council’s new head of North American development, and Effie Marinos is its new specialist advisor for technical standards. Elyssa Jenkins-Perez and Effie Marinos](https://uploads.nationaljeweler.com/uploads/94332af0c7a776e7a8c36fabf76baa5f.jpg)
The organization also announced Effie Marinos as its new specialist advisor for technical standards, as well as four other appointments.
![Karen Rentmeesters, who joined the Antwerp World Diamond Centre in 2010, will take on the role of CEO. Karen Rentmeesters](https://uploads.nationaljeweler.com/uploads/3256fcc71cd43a399055c61f68486269.jpg)
Rentmeesters has served as interim CEO since April following former CEO Ari Epstein’s resignation.
![Longtime Washington, D.C., jeweler Brian Mann (right) with his wife Jessie Mann, an artist who custom-paints porcelain Limoges Boxes, at a 2016 Jewelers of America member event. Mann, the longtime co-owner of David Mann Jewelers, died June 21 at age 70. Brian and Jessie Mann](https://uploads.nationaljeweler.com/uploads/be4debc6e0b3198943a66ef0e2197c2c.jpg)
Mann, whose family’s jewelry store was located inside the Pentagon, is remembered for being a thoughtful champion of the industry.
![The 1916 Company recently opened a new Tudor boutique in Denver’s Cherry Creek Shopping Center. Tudor store in Denver](https://uploads.nationaljeweler.com/uploads/9f8600ea53ed731963331ebd28a10d16.jpg)
The 500-square-foot boutique is located in Denver’s Cherry Creek Shopping Center.
![This necklace from Messika’s “So Move Max” set is made of yellow gold with 19.18-carats of brilliant-cut diamonds and designed with circle motifs that move within the links (price upon request). Messika’s So Move Max Necklace](https://uploads.nationaljeweler.com/uploads/14c78af4a4e8c6b996a81bbb5a5bc69f.jpg)
Dance all night long with the “So Move Max” set’s necklace.
![On Sept. 1, Julien Tornare (left), current CEO of TAG Heuer, will become CEO of Hublot. Antoine Pin, now the general manager of Bulgari’s watch business, will take over Tornare’s role as CEO of TAG Heuer. (Images courtesy of LinkedIn) Julien Tornare and Antoine Pin](https://uploads.nationaljeweler.com/uploads/b24627b34ece895ddd254bae22751fb8.jpg)
Luxury giant LVMH is reshuffling the leadership in its watches division.
![A rendering of a billboard from Etsy’s new campaign. The campaign is designed to highlight the platform’s creators and how their products are made. Etsy billboard rendering in NYC](https://uploads.nationaljeweler.com/uploads/9a94f394f326b90dc1c9da6a711c5e09.jpg)
Sellers and shoppers have spoken out against a rise in mass-produced merchandise on the platform meant to highlight handmade goods.
![Ariana Grande said she cannot wait “to inspire others to embrace their own unique sparkle,” as Swarovski’s brand ambassador. (Photo credited to Mert Alas and Marcus Piggot for Swarovski) Ariana Grande Modeling in Swarovski Jewelry](https://uploads.nationaljeweler.com/uploads/adaa79dce0741a275427155078691611.jpg)
The celebrity will star in Swarovski’s holiday campaign.