Survey Shows Slight Gains for Luxury Jewelry in Third Quarter

Spending in the luxury jewelry category increased only three
percent in the third quarter of 2010, according to a report
from American Express Business Insights.

The average transaction for luxury jewelry was up by six
percent, the survey found. However, transaction volume for this category
decreased by three percent overall.

The report noted that spending on jewelry soared in the
earlier months of 2010—particularly March and April, when spending rose 18
percent and 17 percent, respectively. 
Yet afterwards, the category posted increases below six percent for four
consecutive months—and no increase at all in September.

The survey also found:

– Men were responsible for 71 percent of luxury jewelry
spending.

– Some 54 percent of all jewelry purchases were made by
consumers over the age of 46.

– Shoppers under 35 only accounted for 25 percent of jewelry
purchases.