Study: Diamond Self Purchases Outrank Diamond Gifts

About 83 percent of consumers in an Internet survey own diamond jewelry, with 68 percent having bought diamonds for themselves. Bridal, Christmas holidays, and birthdays gifts were the next highest according to the respondents of a recent a recent Jewelry Consumer Opinion Council study.

For the holidays, 16 percent plan to buy diamond jewelry in the coming months, with well over half intending to get it for themselves, while more than a third are undecided with the potential to buy diamonds for self or gift purchases if appealed to, according to the survey of 3,553 JCOC panelists conducted Oct. 27 to Nov. 1.

A significant percentage of all JCOC respondents say they would be willing to buy diamonds for themselves, with the most popular price range for diamond jewelry other than bridal between $300 and $2,500. The most frequently cited styles favored for self-purchase are right-hand rings, followed by stud earrings.

“Jewelers—particularly national and regional chain stores and independents, where half of diamond purchases are expected to occur in the coming months—place a greater emphasis on gifts of love than the self purchases that consumers repeatedly say they’re willing to make,” said Elizabeth Chatelain, president of MVI Marketing. “In fact, a noticeable percentage cited strong interest in right-hand rings and three-stone rings. Journey diamond jewelry, De Beer’s latest marketing campaign, also elicited interest.”

Chatelain added that self-purchasers were sorely overlooked for add-on sales last holiday season.

JCOC, a division of MVI Marketing Ltd., provides finance, fashion, and retailing industries with fast market intelligence about jewelry products and the end-consumer.