A new study by the International Platinum Association (PGI ®) shows that 50 per cent of consumers who buy high-end jewelry have bought at least one piece of jewelry for themselves in the past two years.
When female jewelry consumers were surveyed, the number increased to 73%, and they said they would buy at least one jewelry product for themselves.
However, male jewelry consumers are most likely to have bought a jewelry product for their partner (74%) or their mother (25%), although surprisingly 37% of men said they had bought at least one for themselves. Female jewelry consumers (31%) were less likely to buy jewelry products for their partners, while 32% of women said they had bought one for their mothers.
Jenny Luker, president of the International Platinum Association (PGI ®) in the United States, said in a statement that research shows that the female self-purchase market is showing "strong growth".
She points out that women also need to consider jewelry when buying handbags and shoes for themselves.
"this continued growth in market share creates a greater opportunity for the jewelry industry to focus more resources on direct dialogue with women," Jenny Luker said.
According to the International Platinum Association (PGI ®), 47 per cent of those who bought jewelry for themselves said they had no particular reason, while 32 per cent bought it to celebrate an important milestone birthday.
The generation born in 1996-2012 is the age group most likely to buy themselves, with 63 per cent of respondents saying they had bought a jewelry product for themselves in the past two years. However, older groups should not be ignored; the survey found that 45 per cent of 1965-1980, millennials and 1946-1964 had bought at least one piece of jewelry for themselves.
The survey defines "high-end jewelry" as items made of precious metals or precious stones that sell for more than $1000.
The International Platinum Association (PGI ®) is not the only organization that has noticed the growing importance of women's self-purchase in the jewelry industry. In recent years, de Beers (De Beers) and the women's jewelry association (Women's Jewelry Association) have launched campaigns aimed at self-buying women.
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