WatchesOct 04, 2024
Watches of Switzerland Clocks Another Acquisition—HodinkeeThe company said Benjamin Clymer will return to his role as head of the watch news website, which will maintain editorial independence.
SurveysApr 19, 2021
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.
A graph from a recent Nielsen IQ study, commissioned by Platinum Guild International USA, shows Americans expect economic conditions and their personal financial situations to improve in the second quarter of 2021.
New York—According to a new study, consumers’ optimism in the economy and their personal financial futures is increasing.
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.”
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.”
More on Surveys
The Latest
MajorsOct 04, 2024
Hearts On Fire Names Gabrielle Grazi VP of Sales, North AmericaThe industry veteran is also the president-elect of the Women’s Jewelry Association.
CollectionsOct 04, 2024
Piece of the Week: Ray Griffiths’ ‘Double Headed Snake’ RingSlither into spooky season with this scary snake ring that boasts two heads with tsavorite eyes.
Brought to you by
Enhance Your Expertise with IGI’s In-Person Courses in NYCThis fall, sharpen your skills in jewelry grading, quality control and diamond assessment.
Policies & IssuesOct 03, 2024
RJO, CERF+ Join Those Offering Hurricane Helene Relief to Affected JewelersPlus, how to apply for emergency funds and donate to recovery efforts.
Weekly QuizOct 03, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 03, 2024
How India Became the World’s Second-Largest Market for Diamond Jewelry A strong economy, a growing middle class with an affinity for brands, and rapid expansion of organized retail have fueled the market’s rise.
CrimeOct 03, 2024
Man Who Shared Spoils of $2.7M Smash-and-Grab on Social Media Pleads Guilty to Robbery ChargeLadell Tharpe, 39, took part in a 2022 jewelry store robbery and then posted pictures of cash on Instagram with the text “Robbery Gang.”
Brought to you by
Why You Can't Miss JA New York This FallDon't miss this one-stop-shop in October, curated with buyers’ needs in mind.
MajorsOct 03, 2024
JA Appoints New Board DirectorThe trade organization welcomed Sheryl Jones to its board of directors for a three-year term.
MajorsOct 03, 2024
Pandora Names 3rd CMO in Past 5 YearsNew Chief Marketing Officer Berta de Pablos-Barbier has worked for LVMH’s champagne brands and Kering-owned Boucheron.
TrendsOct 03, 2024
Amanda’s Style File: October’s ArrivalTransition to fall with this month’s birthstones of opal and tourmaline.
AuctionsOct 03, 2024
Dame Shirley Bassey’s Diamonds Are Ready for Their EncoreSotheby’s will auction jewelry belonging to the “Diamonds Are Forever” singer Oct. 10 in Paris.
Lab-GrownOct 02, 2024
Lightbox Continues as a Brand, While Supplies Last?The De Beers-owned lab-grown diamond company is rebranding and creating new collections, though its long-term future remains unclear.
CollectionsOct 02, 2024
Brilliant Earth Debuts Jane Goodall CollectionThe collection is part of the retailer’s new “Rethink Everything You Know About Diamonds” campaign.
AuctionsOct 02, 2024
The GOAT’s Stash: Watches Owned by Tom Brady Going Up for Auction The sale includes the custom-made, diamond-set Audemars Piguet watch the QB wore for Netflix’s “The Roast of Tom Brady.”
Events & AwardsOct 02, 2024
AJA’s Design Competition Now Accepting EntriesThe Armenian Jewellers Association is hosting its design competition for the second year, with winners showcasing at GemGenève in May 2025.
MajorsOct 01, 2024
Signet Jewelers CEO Gina Drosos to RetireThe jewelry retailer has named her successor and also will expand the role of Chief Financial Officer Joan Hilson.
MajorsOct 01, 2024
Kay Jewelers to Revamp BrandThe Signet Jewelers-owned banner has a new campaign and plans for store redesigns.
CollectionsOct 01, 2024
JV Insardi Inspires Curiosity in New CollectionCreative Director Jen Insardi brings a new take on classic gold bead designs to her “Solar” collection.
IndependentsOct 01, 2024
Oklahoma Jewelers Association Grants Lifetime Achievement AwardThe recipient, Glenn Douglass, also was inducted into the OJA Hall of Fame.
MajorsOct 01, 2024
Stuller Celebrates Long-Serving EmployeesThe manufacturer recognized several team members at its 2024 Milestone Anniversary Banquet.
AuctionsSep 30, 2024
Oscar Heyman Jewels, Paraíba Pieces Shine at Bonhams Auction The single-owner collection sale, which took place in New York last week, achieved $4.8 million, with almost every lot finding a buyer.
TrendsSep 30, 2024
Amanda’s Style File: Dainty DelightsWhile statement pieces always shine, it’s time for everyday staples to be the star of the show.
Policies & IssuesSep 30, 2024
JA Fly-In to DC Focuses on Russian Diamonds, Retail CrimeJewelers of America leadership and members recently headed to D.C. to share the industry’s top concerns with lawmakers.
Recorded WebinarsSep 27, 2024
Watch: Prepare to Shine This Holiday SeasonThree members of JA's 2024 "20 Under 40" class join Amanda Gizzi and Lauren McLemore to share their tips for seasonal retail success.
CollectionsSep 27, 2024
Piece of the Week: Lalaounis’ Necklace is an Archaeological RevivalThe necklace, inspired by ancient artifacts, celebrates strength, endurance, and the natural world.
MajorsSep 27, 2024
Signet-Owned E-Tailer Rocksbox to Launch on AmazonRocksbox is the first banner owned by Signet to sell its jewelry through the retail giant.
