Consumers Spending More on Jewelry, Survey Says

Consumers increased their spending on jewelry in the first nine months of the year, part of a general trend toward spending more on luxuries, according to a survey by American Express Spending & Saving Tracker.

Some 11 percent of those polled said they spent more on jewelry than the prior year—a slight improvement over the 10 percent who reported they were spending more in 2013, and the 9 percent who said they were in 2012.

Other points from the survey:

– Nearly three-quarters of consumers (73 percent vs. 66 percent in 2013) reported they’re spending as much or more than they expected on “personal” extras, such as fashion accessories and leisure activities. 

– Some 62 percent of Americans say they’re planning to make large purchases before the end of the year, versus 51 percent last year. 

– The number of consumers who reported they already purchased big-ticket items this year slightly increased, to 42 percent, from 39 percent last year.

– Some 81 percent of employed Americans report that their jobs are more than or just as stable as one year ago, a nice jump from 69 percent in 2011. 

“As Americans feel more secure about their jobs and finances, they tend to spend more on personal items,” said David Rabkin, senior vice president of consumer lending products at American Express, in a statement. “Our survey respondents report that they’re spending more or the same on some big-ticket items that they may have deferred during the last few years.”



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JCK News Director