w/jck survey - ritz factor
DESCRIPTION
It's been a year and a half since JCK published the results of W magazine’s last consumer study on fine jewelry and watch buying (in our May 2012 issue), but the partnership between our publications is as strong as ever. As proof, we present the exclusive results of W’s Summer 2013 Jewelry/Watch Study, just in time to help you fine-tune your holiday buying.TRANSCRIPT
113jckonline.com JCK OctOber 2013 ◆
ZZZZZZZZZZZZZZZZZZZZZZZZZZZearrings in 18k gold with diamonds, sapphires, and emeralds; $31,045; Nam Cho at Fragments, NYc; 212-226-8878; fragments.com
114 ◆ JCK OctOber 2013 jckonline.com
When buying a fine watch,
89%consider a brand name “very” or “somewhat” important
Holiday Buying & Brands
/ Survey
88% of affluent shoppers say fine jewelry/watches figure into their holiday shop-ping plans (for those with a household income of $200,000+, it’s 92%)
Nearly
75% made a fine jewelry purchase within the past year (and more than half within the past 6 months)
55%
Respondents say they’d spend slightly less than
$9,000on a piece of fine jewelry they loved and slightly more than $8,000 on a fine watch they loved
94%agree with the statement:
“I feel more confident buying a piece of fine jewelry from a brand I know.
”
(up from 85% in 2009)
purchased a watch in the past 3 years
When buying fine jewelry, 80% consider a brand name “very” or “somewhat” important. (For comparison: When buying a handbag, a brand name is very or somewhat important to 89% of affluent shoppers; when buying footwear, it’s 86%.)
colette earrings with azurite and black and white diamonds; price
on request
Supreme Jewelry 18k bracelet with 9.14 cts. t.w. diamonds; $38,950
Longines Avigation Oversize crown watch with black alligator strap; $3,100
115jckonline.com JCK OctOber 2013 ◆
47%agree with the statement:
“I love gold jewelry.It’s always my preferred jewelry material.”
Jewelry Trends & Style
Fine jewelry trends striking a chord with affluent shoppers this season:
emeralds/green gems:
51%Openwork gold pieces:
51%Gemstone slices:
48%Punk motifs (e.g., spikes):
24%(40% among 18- to 34-year-olds)
Fossils/minerals/offbeat materials:
23% Yellow goldmakes up
42%
of affluent shoppers’ jewelry wardrobes. But the “white look” prevails—with silver accounting for 26% (compared with 18% for white gold and 14% for platinum).
30% say that while they love gold, rising metal prices have turned them to silver and other less precious materials
Nearly half of affluent shoppers agree with the statement:
“I love what designers are doing with silver; in my opinion, it’s no different than gold.”
Only 25% of respondents are selecting silver for its affordability. But nearly as many (24%) say they just don’t care for silver jewelry.
68%
agree with the statement:
“I love costume jewelry, and I often mix and match it with my fine jewelry.”(65% with household income of $200,000+ also agree)
One-of-a-kind and artisanal properties make a piece special:
90% say they are willing to pay more for a one-of- a-kind piece
bavna Sabbia ring in 18k yellow
gold with 6.3 cts. t.w.
pavé diamonds; $8,800
robert Procop Queen of
Diamonds earrings with 3 cts. t.w.
emeralds and 6 cts. t.w. diamonds;
price on request
Jordan Alexander silver cuff with pearl slice and diamonds; price on request
116 ◆ JCK OctOber 2013 jckonline.com
Watch Trends & Style
Affluent shoppers younger than 45 are not as habitual about wearing a watch as the older generation, but they remain key target consumers
Women & Purchasing
borgioni double-finger ring with pavé brown and black diamonds;
$8,250
/ Survey
55% of affluent shoppers wear a watch daily. But broken down by age, the numbers vary:
18–34: 40%35–44: 51%45–54: 66%55+: 67%
Watch trends resonating with shoppers this season:
of affluent shoppers would be interested in a smartwatch (e.g., the potential Apple iWatch or the Pebble)
29%
Emotional connection:
• Celebrating a special occasion such as a birthday (90%)• The piece has a special meaning—such as a birthstone or a personalized message (76%)• It’s a souvenir from a trip (78%)
Price• The piece was discounted or on sale (89%)• It was tax-free—e.g., traveling abroad (77%)
The motivating factors behind a purchase:
Uniqueness, access: • The piece has unique styling or design (96%)• It’s a limited edition or one-of-a-kind (83%)• It’s from a well-known luxury brand or designer (78%)• A trunk show or event enabled access to a special piece (66%)
Oversized watch faces:
44%Colorful dials/straps:
36%Smaller watch faces:
31%Complications: 30%
Glam rock stainless steel watch with violet sunray 3-D flower dial; $1,095
MarketplaceThe Jewelry Industry’s Essential Sourcing Tool
TA K E J C K W I T H YO U .S t a r t y o u r s e a r c h n o w a t J C K O N L I N E . C O M / M A R K E T P L A C E
Be sure to visit our Featured Suppliers:
99 Jewelry Trading, Inc. • AF Design, Inc. • Alamea Hawaii • Alfa Box Corporation • Alfa Mirage CoAllison-Kaufman Company • Arch Crown, Inc. • ARIVA Living in Fine Jewelry™ • Carrera Casting • Chain & Hoop Group
Chromagem • Costar • Cristina Sabatini LLC • De Vere Jewellery (H.K.) Ltd. • De-ani, Inc. • Designs by H.C. • Diaring IncDora International • Ed Levin Jewelry • Eurostar Diamond Traders • First Image Design Corp. • First Jewelry Limited
Future Designs By Lahijani• Goldstein Diamonds • HANADAMA Pearls • Hot Diamonds USA • IMD Trading Co. • INOX JewelryIntercept Silver & Jewelry Care Co. • Interings, Inc. • Johnny’s Diamonds & Jewelry • KP Jewelry • La Corza by Sabo Designs
LAFONN • Los Angeles Window Display Company, Inc • M.K. Diamonds & Jewelry • MB Jewelers • Meeo Miia • MJ Wilman, Inc.MMA International, LLC / Silver Stars Collection • MPI Systems, Inc. - World Class Software for Jewelers • Myron Toback Inc.Nelson Jewellery USA, Inc. • Omi Privé • Parle Jewelry Designs/ IOGC • RDI Diamonds • Royal Imports • SNS Jewelry Studio
Sterling Forest • Stuller, Inc. • Supreme Jewelry Corp. • United Gemco Inc. • United Precious Metal RefiningVanna K Bridal/S.A. Kitsinian Inc. • Victor Corporation • William Lam & Co. Inc. • Yael Designs
3 ,0 0 0 s u p p l i e r s . 3 0 ,0 0 0 p r o d u c t s . 1 w e b s i t e .
PHOTOGRAPH PROVIDED BY JEFF COOPER DESIGNS
JCKMktplc_july.indd 1 6/14/2013 1:07:19 PM