today's jewelry market continued.....
"While our new study gives the traditional perspective, it goes further by taking a consumer-centric point of view -- Who the customer is and what are their prime motivations in purchase? This gives marketers and retailers powerful insights into ways to connect for more sales and profits with their consumers and shoppers."
A key finding in the study is a gender gap in the jewelry market. "Women are from Venus and men are from Mars when it comes to jewelry shopping and buying," Danziger explains. "Men's and women's needs are so different, their desires so unique, that it is the rare jewelry marketer or retailer that can bridge the gender gap in the jewelry market."
Some key gender differences:
-- Men buy mostly fine jewelry items as gifts for women; women buy jewelry mostly for themselves and are about equally likely to buy either fine or costume jewelry.
-- Women's jewelry dominates the market, accounting for nearly 90 percent of the dollar volume in 2003; men's jewelry is only 10 percent of the total market. Men are the primary purchasers of what little men's jewelry is bought; women simply don't buy jewelry as gifts for men.
-- Women buy more jewelry pieces per year, but men spend lots more money. Men who buy jewelry spend two-times more per year than women do.
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