Surveys

Study: 51 Percent of Millennial Women Buy Jewelry for Themselves

SurveysAug 10, 2018

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

likely to buy a lab-grown diamond.

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.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Buccellati jewelry
FinancialsMay 17, 2024
Richemont Appoints Van Cleef & Arpels’ Nicolas Bos as New CEO

The announcement coincided with its full-year results, with growth driven by its jewelry brands.

Watches of Switzerland Mall of America store
FinancialsMay 17, 2024
Watches of Switzerland’s Fiscal-Year Sales Flat

Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.

My Next Question webinar series graphic
Recorded WebinarsMay 17, 2024
Watch: Preparing for Trade Show Success

Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.

Royal Chain gold chains
Brought to you by
Record Gold Prices Have Consumers Undeterred. Here’s Why.

Despite the rising prices, consumers continue to seek out the precious metal.

Cartier ring-tailed lemur brooch circa 1991
AuctionsMay 17, 2024
Piece of the Week: Cartier’s Ring-Tailed Lemur

This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.

Weekly QuizMay 16, 2024
This Week’s Quiz
Test your jewelry news knowledge by answering these seven questions.
Take the Quiz
202.18 carat fancy intense yellow diamond The Yellow Rose
AuctionsMay 16, 2024
Christie’s Holds 2 Sales Despite Cyberattack

Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.

The Allnatt yellow diamond
AuctionsMay 16, 2024
Sotheby’s Withdraws 101-Carat Yellow Diamond from Auction

Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.

Header image w logo.jpg
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a Tradeshow

Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.

National Jeweler columnist Lilian Raji
ColumnistsMay 16, 2024
The PR Adviser: What the Designer Should’ve Done

Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.

Mothae Diamond Mine Lesotho
SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine

The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.

National Jeweler columnist Peter Smith
ColumnistsMay 15, 2024
Squirrel Spotting: Why Retailers Struggle to Fire Brands

Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.

The Argyle Phoenix red diamond
AuctionsMay 15, 2024
Red Diamond Breaks Records at Phillips Geneva

The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.

Jewelers of America 20 Under 40 2024 recipients
Events & AwardsMay 15, 2024
See Who’s in JA’s 2024 ‘20 Under 40’ Class

The annual list recognizes young professionals making an impact in jewelry retail.

David Mann jewelry store
IndependentsMay 15, 2024
David Mann Jewelers in Upstate NY to Close After 35 Years

Owner David Mann is heading into retirement.

Brilliant Earth Logan Hollowell jewelry collection
FinancialsMay 15, 2024
Brilliant Earth’s Sales Fall Flat in Q1

While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.

Rough diamonds from De Beers
SourcingMay 14, 2024
Anglo American Confirms It Is Looking to Sell De Beers

The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”

The Yellow Rose and the Allnatt yellow diamonds
AuctionsMay 14, 2024
2 Huge Yellow Diamonds Are Heading to Auction

Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.

Born Leaders Platinum Born campaign
MajorsMay 14, 2024
Platinum Born Taps ‘Born Leaders’ for New Campaign

The ad aims to position platinum jewelry as ideal for everyday wear.

Instappraise Trifold Brochure
GradingMay 14, 2024
Instappraise Adds Trifold Brochure to Appraisal Offerings

Retailers can customize and print the appraisal brochures from their store.

White, pink, and blue lab-grown diamonds from Lightbox
Lab-GrownMay 13, 2024
Lab-Grown Diamond Brand Lightbox Cuts Prices by 25 to 40%

The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.

Christie’s New York
TechnologyMay 13, 2024
Christie’s Website Brought Down by Hackers, Watch Auction Postponed

The site has been down since Thursday evening, just ahead of its spring auctions.

Madeleine K. Albright’s Patriotic Leopard Brooch
AuctionsMay 13, 2024
Madeleine Albright’s Jewelry, Pins a White-Glove Sale at Freeman’s | Hindman

The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.

Zachary’s Jewelers Mother’s Day Jewelry Contest winners
IndependentsMay 13, 2024
Zachary’s Jewelers Names Mother’s Day Jewelry Contest Winners

Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.

Kimberly Adams Russell
IndependentsMay 10, 2024
Frank Adams Jewelers Names New CEO

Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.

Birth of Venus necklace
CollectionsMay 10, 2024
Piece of the Week: Carina Hardy’s ‘Birth of Venus’ Necklace

As a token of womanhood, this necklace depicts when Venus was born from the sea.

Roberto Coin Fleur de Lis jewelry
MajorsMay 09, 2024
Watches of Switzerland Pays $130M for Roberto Coin Inc.

The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.

Lauren K Mosaic necklace
TrendsMay 09, 2024
Amanda’s Style File: Shine Bright, Moms  

Show your mother some love with a piece of fine jewelry.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy