Jewelers who aren’t conscious of fashion and of how to cater to women shoppers are severely limiting their future marketability, according to a recent global study of consumers. The study, conducted by advertising giant Young & Rubicam’s Intelligence Factory, reveals that women are quickly becoming the biggest consumers in the Western world.
Taking the place of 1980s yuppies are single women-not young college graduates looking for Mr. Right, but single women who earn high salaries and for whom marriage is not a priority. They are fashion-conscious shoppers who purchase their own designer clothes and accessorize with fine jewelry.
According to Young & Rubicam, these women are well-educated shoppers who are loyal to brands and influenced by peers. No longer restricted by society’s spinster mentality, they are responsive to marketing that respects their independence and intelligence. Community and social relationships-rather than family-are priorities for this important market sector.
The trend shows no signs of slowing and is, in fact, an international phenomenon. According to Reuters, women’s average age of marriage is creeping up steadily around the world. In Japan, the population’s percentage of single women has risen 50% in the past 15 years, and forecasters predict that 1 in 7 women who are now 20 years old or younger will never wed. In France, the average age of marriage is 30.