MVI Marketing of Paso Robles, California, creator of the Internet-based e-panel and market research analysis system the Jewelry Consumer Opinion Council (JCOC), hosted an interactive virtual seminar July 22. Research was garnered from a survey of 2,615 consumers June 28 to July 1 that evaluated buying habits in June, and purchasing expectations for the upcoming holidays. Separate surveys were conducted July 1 to 7 on men’s jewelry with 2,713 respondents and July 2-7 on shopping preferences with 2,395 respondents.
Attendees viewed a Power Point presentation via the Internet, listened by phone to commentary by Liz Chatelain, co-founder and CEO of MVI; Destini Gillham, market research manager for the JCOC, and Deborah Yonick, jewelry writer and author of The Jewelry Lady column on the JCOC Web site; and interacted without leaving the office.
”This JCOC virtual seminar revealed surprising results in the area of men’s jewelry trends as well as opportunities for retailers to capitalize on consumers’ desire to make self-purchases while shopping for others,” says Chatelain. “Directly asking the consumer to respond to key industry ideas and trends is the only way to truly understand the future of the jewelry business.”
Among the most significant findings revealed:
• In the June omnibus, almost 30 percent say it’s likely they’ll give fine jewelry as a gift for the holidays, with another 37 percent open to the idea.
Earrings, necklaces and rings were chosen as the most likely gifts among those who plan to buy jewelry. Nearly half expect to purchase yellow gold jewelry, 27 percent say white gold.
> Over 87 percent admit to browsing for themselves while shopping for fine jewelry gifts for others, with 60 percent are likely to make a self-purchase.
Over 30 percent are likely to get gem bead jewelry as a self or gift purchase, while nearly 30 percent are likely to get a pearl necklace as a self or gift purchase.
Brooches, cited as a significant accessories trend for fall, will not likely be popular mainstream by the holidays.
• In the July 2-7 omnibus, more than one-third are likely to enter a jewelry store anytime to make a self-purchase, with Christmas the second most popular time for nearly 24 percent.
Consumers are more concerned with attaining high quality jewelry in their price range than extras like store credit and post sales services and repair.
Consumers would be more likely to purchase online if they could save 15 percent on the overall price of the jewelry they’re interested in buying.
Nearly 40 percent of the over 450 male respondents felt low-pressure sales would improve their jewelry shopping experience.
• In the July 1-7 omnibus, nearly 75 percent of the more than 500 male respondents wear jewelry, with nearly 25 percent saying they would like to wear more. Top choices are watch, ring (non-bridal) and necklace.
Diamond is the favorite gem for gents. A range of metals is popular: gold, platinum, silver, titanium and stainless steel.
More than 50 percent of men purchased the jewelry they own, with nearly 40 percent receiving it as a gift.
Purchasing drivers include design, personal taste, accessories to menswear, craftsmanship and technology, and what the women in their lives like to see them wearing.
An audiocassette tape or CD of the presentation is available online at www.jcoc.info for $195, or CD-ROM with audio and visual combined for $249. For more information about the findings revealed in the webinar visit www.jcoc.info or contact Marty Hurwitz of MVI Marketing at 800-421-9339/805-239-2994 or email firstname.lastname@example.org.
JCOC was founded in 2001 with the mission of providing MVI Marketing clients with fast, efficient, effective, and powerful market intelligence about their jewelry products and their respective end use consumers. The JCOC is an e-panel of fine jewelry consumers throughout North America representing all ages, genders, income levels, buying categories, and geographic regions.