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Jewelry in the United States 2008
Mintel, May 2008, Pages: 91
Scope and Themes
What you need to know
Definition
Data sources
Sales data
Consumer survey data
Abbreviations and terms
Abbreviations
Executive Summary
Overview
A market in decline
Jewelry stores remain the primary channel
Multi-tiered marketing strategies
Diverging purchase behavior and tastes
Market Size and Forecast
Future growth likely to be tempered by weak economy
Less for more
Race to the top
Figure 1: Total U.S. sales and forecast of jewelry, at current prices, 2002-12
Figure 2: Total U.S. sales and forecast of jewelry, at inflation-adjusted prices, 2002-12
Competitive Context
Redefining value
It’s all about accessorizing
A new global marketplace
Figure 3: Global and U.S. revenue for leading luxury brands, 2006
Preserving their independents
Segment Performance—Overview
Market focus shifts to high end products
Pinched in the hourglass
The most bang for the buck
U.S. sales and forecast of jewelry
Figure 4: U.S. sales and forecast of jewelry, at current prices, by segment, 2002-12
Figure 5: U.S. sales of jewelry, by segment, 2005 and 2007
Segment Performance—Gemstone Jewelry
Gemstones continue growth, despite poor economy
Diamonds are forever, but colored stones are for fun
U.S. sales and forecast of gemstone jewelry
Figure 6: U.S. sales and forecast of gemstone jewelry, 2002-12
Segment Performance—Costume Jewelry
Costume sales struggle, future area for potential growth
Fashion’s victim
Short-term impact from lead scandal
U.S. sales and forecast of costume jewelry
Figure 7: U.S. sales and forecast of costume jewelry, 2002-12
Segment Performance—Karat Gold Jewelry
High cost hurts karat gold segment
Gold prices hit the ceiling
U.S. sales and forecast of karat gold jewelry
Figure 8: U.S. sales and forecast of karat gold jewelry, 2002-12
Segment Performance—Watches
Watches enjoy steady growth
The sky’s the limit
Creating a watch wardrobe
U.S. sales and forecast of watches
Figure 9: U.S. sales and forecast of watches, 2002-12
Segment Performance—Other Jewelry
Interest in alternative metals drives “other” jewelry sales
Silver is no longer second best
Palladium gains in popularity
U.S. sales and forecast of other jewelry
Figure 10: U.S. sales and forecast of other jewelry, 2002-12
Retail Channels—Overview
Key points
HNW audience, gift buyers maintain jewelry stores
Sales of jewelry by retail channel
Figure 11: U.S. sales of jewelry, by retail channel, 2005 and 2007
Retail channel choices shift by demographic
Figure 12: Retail channels through which jewelry is purchased, by gender, age and household income, November 2007
Retail Channels—Jewelry Stores
Key points
Both sides of the hourglass
New strategies for new competition
Sales of jewelry at jewelry stores
Figure 13: U.S. sales of jewelry at jewelry stores, 2002-07
Retail Channels—Department and Clothing Stores
Key points
Department stores in the decline
Figure 14: Shopping behavior at leading department stores, 2007
Sales of jewelry at department stores
Figure 15: U.S. sales of jewelry at department stores, 2002-07
Sales of jewelry at clothing stores
Figure 16: U.S. sales of jewelry at clothing stores, 2002-07
Retail Channels—Discounters and Mass Merchandisers
Key points
A season for savings
Figure 17: Shopping behavior at leading discount stores, 2007
Sales of jewelry at discounters and mass merchandisers
Figure 18: U.S. sales of jewelry at discounters and mass merchandisers, 2002-07
Retail Channels—Non-Store and Other Retailers
Key points
Going wide on the Web
A starring role for TV
Sales of jewelry at non-store and other outlets
Figure 19: U.S. sales of jewelry at non-store outlets, 2002-07
Figure 20: U.S. sales of jewelry at other stores, 2002-07
Market Drivers
An economy in decline
Figure 21: Consumer sentiment index, 2001-07
Skyrocketing prices for raw materials
Figure 22: Average annual London fixed prices for precious metals, 2002-08
HNWIs and the “hourglass effect”
Figure 23: Number and assets of individuals with household assets of $1m or more, 2002-06
Declining marriage rates
Figure 24: Number of marriages in the U.S., 2002-06
Leading Companies
Key points
Overview
Future growth opportunities and trends
Figure 25: Sales of leading jewelry companies, 2005 and 2006
Figure 26: Luxury jewelry and watch brands owned, by gender, age and household income, November 2007
Brand Qualities
Cartier
H. Stern
Tiffany & Co.
Zales
Innovation and Innovators
David Yurman
Subversive Jewelry
FemmeGems
Advertising and Promotion
Overview
Figure 27: Advertising spending by leading jewelry and watch retailers, 2005 and 2006
Advertising strategies
Television advertising
A Diamond is Forever/De Beers
Figure 28: Diamond is Forever Journey Necklace TV ad, 2007
Helzberg
Figure 29: Helzberg Diamonds TV ad, 2007
Macy’s
Figure 30: Macy’s Jewelry TV ad, 2007
Rolex
Figure 31: Rolex Watch TV ad, 2007
Zales
Figure 32: Zales TV ad, 2007
Items of Jewelry Purchased
Fine jewelry purchased
Figure 33: Mean number of items of fine jewelry purchased in past 12 months, by reason for purchase, by gender, age, household income and race/ethnicity, March 2008
Watches purchased
Figure 34: Mean number of watches purchased in the past 12 months, by reason for purchase, by gender, age, household income and race/ethnicity, March 2008
Jewelry Purchases
Types of jewelry purchased
Figure 35: Types of jewelry purchased in past 12 months, by gender, March 2008
Figure 36: Types of jewelry purchased in past 12 months, by age, March 2008
Earrings
Figure 37: Types of earrings purchased in the past 12 months, by gender, March 2008
Necklaces
Figure 38: Types of necklaces purchased in the past 12 months, by gender, March 2008
Bracelets
Figure 39: Types of bracelets purchased in the past 12 months, by gender, March 2008
Rings
Figure 40: Types of rings purchased in the past 12 months, by gender, March 2008
Buying Behavior
Retail channels most frequently used for jewelry purchase
Figure 41: Channels through which jewelry is purchased most often, by gender, March 2008
Figure 42: Channels through which jewelry is purchased most often, by age, March 2008
Figure 43: Channels through which jewelry is purchased most often, by household income, March 2008
Factors influencing jewelry purchase
Figure 44: Factors influencing jewelry purchase, by gender, March 2008
Figure 45: Factors influencing jewelry purchase, by age, March 2008
Figure 46: Factors influencing jewelry purchase, by household income, March 2008
Attitudes and Motivations
Attitudes towards buying jewelry
Figure 47: Attitudes towards buying jewelry, by gender, March 2008
Figure 48: Attitudes towards buying jewelry, by household income, March 2008
Reasons for jewelry purchase
Figure 49: Reasons for jewelry purchases, by gender, March 2008
Satisfaction with jewelry purchase
Figure 50: Levels of satisfaction with jewelry purchase, by gender, age, household income and race/ethnicity, March 2008
Wedding Jewelry
Figure 51: Types of wedding jewelry purchased, March 2008
Appendix: Other Useful Consumer Tables
Separate jewelry item purchases for self and for others
Figure 63: Items of jewelry purchased for self in the past 12 months, by gender and age, March 2008
Figure 64: Items of jewelry purchased for someone else in the past 12 months, by gender and age, March 2008
The impact of household income on types of jewelry purchased
Figure 65: Types of jewelry purchased, by household income, March 2008
Attitudes towards buying jewelry by respondent age
Figure 66: Attitudes towards buying jewelry, by age, March 2008
Appendix: Trade Associations
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State of the Industry: Costume Jewelry in the U.S.
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