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New Nielsen Study Shows Consumer Optimism Toward Jewelry
The survey showed Americans are becoming more optimistic about their financial futures and view precious jewelry as an important category.
Platinum Guild International USA commissioned the study, which was conducted by Nielsen IQ in four key global markets: the United States, mainland China, India and Japan.
In the U.S., Nielsen interviewed 500 consumers in February and early March this year.
While only 33 percent surveyed called current economic conditions “positive,” with 28 percent deeming them “neutral” and 39 percent “negative,” the survey showed higher expectations for economic conditions in the next three months.
More than half, or 53 percent, said they expected economic conditions in the next three months to “get better,” 26 percent said they expected them to “stay the same” and only 22 percent thought they would “get worse.”
When asked about their own financial situations, 46 percent indicated their current status was “positive,” 35 percent said “neutral,” and 19 percent said “negative.”
But again, respondents were optimistic about the coming three months, with 54 percent believing their personal financial situations would “get better,” 35 percent believing they would “stay the same” and only 10 percent indicating they thought they would “get worse.”
PGI USA shared several jewelry-specific insights from the study, such as over half of respondents indicating they were looking to purchase non-bridal jewelry in the next year.
Females age 18 to 45 are the most likely to buy themselves non-bridal jewelry, while males age 31 to 45 are the most likely to gift jewelry. Eight out of 10 respondents said they now feel comfortable shopping in-store.
Fine jewelry perception also proved to be positive.
Thirty-three percent of respondents “strongly agreed” that precious jewelry remains important for commemorating important occasions, while 43 percent “agreed,” 18 percent felt “neutral” toward the statement, 4 percent disagreed and 2 percent strongly disagreed.
Thirty-three percent of respondents also “strongly agreed” that precious jewelry is personally meaningful to them, with 39 percent “agreeing,” 20 percent saying they felt “neutral” toward the idea, 4 percent “disagreeing” and 3 percent “strongly disagreeing.”
When asked if they agreed with the statement: “Precious jewelry is a great purchase as it retains its value, which is important in today’s times,” 33 percent “strongly agreed,” 39 percent “agreed,” 19 percent said they felt “neutral” toward the statement, 7 percent “disagreed” and 3 percent “strongly disagreed.”
Lastly, 30 percent of American respondents said they “strongly agreed” that “precious jewelry signifies significant emotions and relationships that I cherish more than other luxury items.”
43 percent “agreed,” 18 percent felt “neutral,” 6 percent “disagreed” and 3 percent “strongly disagreed.”
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Assure has also enlisted a second lab for testing, at the University of Antwerp in Belgium.
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