PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SurveysMay 11, 2016
Affluent Millennials Expected to Spend More on Fine Jewelry
Though luxury spending is predicted to decrease by 1 percent in 2016, high-income millennials and Generation X will play a bigger role in fine jewelry purchases, a recent study predicts.
New York--The high-earners of the millennial generation will have a big impact on the fine jewelry market this year, according to YouGov’s Affluent Perspective Global Study.
The study is based on insights from 5,196 affluent respondents across 12 countries.
In the United States, respondents were divided into three categories: the base affluent ($150,000 to $199,000 in household income), middle affluent ($200,000 to $349,000) and upper affluent ($350,000 and over).
Overall, the study found that fine jewelry purchases are expected to decrease 11 percent to $14.4 billion this year, while watch purchases are predicted to decrease by more than 3 percent to a market value of $6.7 billion in 2016.
While spending on jewelry and watches is expected to drop, affluent millennials are expected to really step up their spending this year.
According to the study, the generation’s purchasing of fine jewelry could increase by as much as 22 percent in 2016, while spending on watches could rise by 10 percent.
Affluent members of Generation X also are expected to increase their spending in fine jewelry by nearly 7 percent, while watch spending will be nearly flat.
Overall, YouGov has forecasted about a 1 percent reduction in luxury spending this year among all affluent groups, with the exceptions being millennials and America’s 400,000 wealthiest households, whose spending is expected to increase by 8 percent and 10 percent, respectively.
“It’s important not to lose sight of the fact that this year, Boomers and Gen X together will spend 4.5 times more than the millennials across the nine categories we monitor,” said Cara David, managing partner at YouGov. “Marketers should be
Editors' Picks
Sponsored by
careful not to sacrifice one for the other.”
In 2016, discretionary spending across the nine categories that YouGov monitors in its study is expected to reach $277 billion, which is a $2 billion decrease from 2015. Only two of those categories will see an increase this year--travel (up 10 percent) and fine dining (up 5 percent).
The remaining seven, which includes fine jewelry, all are expected to see decreases. Spending on apparel, accessories, handbags, home items, and fine jewelry and watches will see a cumulative 11 percent decrease in spending, from $132 billion in 2015 to $117 billion this year.
For most millennials, this introduction into the luxury market came as a result of its being gifted to them, with the early adoption among the generation mostly as a result of their parents serving as the catalyst.
Millennials also cited price as the number one indicator of luxury, David noted.
“For luxury brands and luxury brand managers, this means that there is a need to help them evolve from a relatively immature consumer to one that will come to appreciate the true value of luxury including the artistry and craftsmanship of the product or experience itself,” she said.
In 2016, discretionary spending across the nine categories that YouGov monitors in its study is expected to reach $277 billion, which is a $2 billion decrease from 2015. Only two of those categories will see an increase this year--travel (up 10 percent) and fine dining (up 5 percent).
The remaining seven, which includes fine jewelry, all are expected to see decreases. Spending on apparel, accessories, handbags, home items, and fine jewelry and watches will see a cumulative 11 percent decrease in spending, from $132 billion in 2015 to $117 billion this year.
“It’s important not to lose sight of the fact that this year, Boomers and Gen X together will spend 4.5 times more than the millennials across the nine categories we monitor. Marketers should be careful not to sacrifice one for the other.”--Cara David, YouGovYouGov also found that people are being introduced to the luxury market at earlier ages. The study shows that 90 percent of affluent millennials have already been introduced to luxury by the age of 37. Only 72 percent of those in Gen X, 61 percent of baby boomers and 55 percent of “matures” had their first experiences by this age.
For most millennials, this introduction into the luxury market came as a result of its being gifted to them, with the early adoption among the generation mostly as a result of their parents serving as the catalyst.
Millennials also cited price as the number one indicator of luxury, David noted.
“For luxury brands and luxury brand managers, this means that there is a need to help them evolve from a relatively immature consumer to one that will come to appreciate the true value of luxury including the artistry and craftsmanship of the product or experience itself,” she said.
More on Surveys
The Latest
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
