The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
Study: 51 Percent of Millennial Women Buy Jewelry for Themselves
Some of their favorite brands include Tiffany, Pandora and Swarovski.
New York—Millennial women who purchase jewelry for themselves present a unique opportunity for luxury brands looking to reach Generation Y, a recent survey conducted by MVI Marketing shows.
A total of 1,001 women between the ages of 25 and 40 located in the United States and with a household income of $75,000 or higher completed the survey, which was conducted online between July 15-20. It focused on three product segments: jewelry, shoes and hotels.
MVI said the results of its study “reinforce reasons for optimism for luxury brands seeking an entry- level point with millennial consumers.”
In fact, MVI has named the consumer segment of the millennial female who purchases jewelry for herself “The Luxury Growth Demographic of Opportunity,” because they have a 30-year-plus spending cycle that’s just beginning, their brand attachments still are in the formative stage and their brand loyalty can be attained by factors like content engagement, style and adornment.
“You can see all the signs of a demographic segment that will be spending for themselves, and for gifts, in increasing numbers and escalating price points,” MVI President Liz Chatelain said.
More than 51 percent of respondents said they purchase jewelry for themselves.
Another 14 percent said they purchase it as a gift for their spouse/partner, 17 percent said they make jewelry purchases together, and 18 percent said their spouse or partner purchase jewelry for them.
When respondents were asked about their motivations for buying jewelry for themselves, the top reasons included being able to get exactly what they want; rewarding themselves for a milestone; “just because;” and commemorating a special memory or trip, among others.
The survey also asked what specific brands respondents owned or were most likely to purchase, and Tiffany & Co., Pandora and Swarovski came out on top. The list also included Alex and Ani, Gucci, Cartier and Tory Burch.
According to the study, nearly 91 percent of survey takers indicated they research a brand before buying it.
Though MVI has done a few other studies about female consumers who buy jewelry for themselves, this was the first time they asked respondents how likely they were to buy a lab-grown diamond.
Forty-three percent indicated they would maybe purchase a lab-grown diamond but don’t know much about them; 21 percent said they would probably purchase a lab-grown diamond as they learn more about them; and 13 percent indicated they were very
MVI also asked survey-takers about their preferred metal for jewelry, and the results were led by white metals: 35 percent said white gold, 17 percent said silver and 15 percent said platinum.
Thirteen percent of respondents indicated they preferred rose gold and 11 percent said yellow.
The remainder said they didn’t know or didn’t have a preference (6 percent) or preferred mixed-metal pieces (3 percent).
The survey also questioned respondents about preferred jewelry designs, and topping the list was diamond jewelry, followed by gemstone jewelry and platinum with diamonds.
The Latest

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.


Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

The winning designs captured the “Radiance” theme.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.

The heist happened in Lebec, California, in 2022 when a Brinks truck was transporting goods from one show in California to another.