The self-purchasing woman has become a powerful consumer force in the marketplace. However a recent market research study conducted by the Jewelry Consumer Opinion Council? on behalf of the American Gem Trade Association found that as a jewelry consumer this demographic is largely underexploited and ignored by the broad spectrum of the industry.
The JCOC study was conducted between September 18 and September 24, 2009 and was completed by 1,346 women.
The study reports a significant majority of female self purchasers will purchase new shoes for themselves between 2-5 times (65%) in a typical year with an additional 12% saying they will purchase new shoes more than 5 times in a year.
The respondents say they will purchase a new dress or clothing outfit for themselves 2-5 times per year (45%) and 29% say more than 5 times per year. Yet, when asked how many times they would purchase jewelry containing colored gemstones or cultured pearls for themselves in a typical year the largest numbers are 1 time (23%), Not sure (19%) and None (23%).
Additional key findings from this research were:
35% of respondents still purchase jewelry containing colored gemstones or cultured pearls at Local Independent Jewelry Retailers however 57% only sometimes find enough selection and choices and 61% only sometimes find prices within their budget
The 3 most important value drivers in importance to these consumers in terms of shopping for this product are:
- Knowing that the gemstone or pearls in the jewelry are real versus synthetic
- Having confidence in the person selling me the colored gemstone or pearl jewelry
- Being able to easily return or exchange a style of colored gemstone or pearl jewelry