Consumer Spending Drop Predicted for Holiday Season



MVI Marketing Ltd.’s consumer research division, Jewelry Consumer Opinion Council announced Thursday the results of its annual pre- holiday study conducted in October.

According to the report, the percantage of people who will be buying jewelry as holiday gifts this year went from 14 to just 11 after growing steadily each year from 2002 to 2007.

The report also states that the major categories of women’s jewelry to be purchased this holiday will be earrings, necklaces and bracelets with dress watches topping the men’s list. Fifty percent of the panelist stated they would spend about the same on jewelry gifts but when asked to list the approximate amount they would spend, the number is lower than last year.

Chain and local independent jewelry stores top the list of where people would shop for jewelry gifts with department stores dropping to third from second place last year.

The Jewelry Consumer Opinion Council 2009 Pre-Holiday Purchasing Report is available for free at www.mvimarketing.com.