MVI releases year-in-review jewelry report
National Jeweler
MARCH 07, 2006 – Paso Robles, Calif. — Through its jewelry consumer research arm, the Jewelry Consumer Opinion Council (JCOC), MVI Marketing has released its 2005 Year-in-Review, a 61-page report consisting of key findings and analysis of jewelry consumer polling.
Through JCOC.net, launched four years ago by MVI, the group maintains a roster of more than 100,000 jewelry consumers representing a demographic cross-section of the country, whom MVI regularly surveys in its monthly omnibus studies to aid jewelers who wish to close the gap between what they think consumers want, and the actual needs of their target customers.
“Consumers’ desires often don’t come close to the industry’s perceptions,” Elizabeth Chatelain, co-CEO of MVI Marketing and JCOC.net manager, said in a release. “A tremendous disconnect still exists between the industry’s perceptions of consumer preferences and what the consumer actually wants.”
Based upon three years’ worth of JCOC’s omnibus studies surveying beliefs, trends and preferences among jewelry-buying consumers, the report encapsulates those findings into projections and recommendations for jewelers who wish to grow their market share.
Among the report’s key findings:
-For at least two-thirds of 2005, self-purchases accounted for 50 to 90 percent of the jewelry bought in any given month last year.
-Consumer awareness of diamond right-hand rings has exploded, with the 75 percent who said in 2003 that they were unaware of the product giving way to the 42 percent saying they owned one by February 2004.
-Hispanic consumers’ taste for platinum is on the rise, as is their consumption of diamond right-hand rings.
-Three-quarters of male respondents say they wear jewelry, and more than a quarter of them say they’d wear more if they saw a greater selection and knew more about what was available to them in the category.
