This was passed onto me from a multi million dollar a year store who
uses radio on 6 stations. David Geller
Interesting article from a Radio Research company
Mass Merchants Sold More Jewelry than Department Stores in
2001
Discounters and mass merchants surpassed department stores in
jewelry sales in 2001, although traditional jewelry stores
continue to account for more than half of the retail category’s
business, according to Unity Marketing. Retail sales of jewelry
fell slightly in 2001 to $39.5 billion, down from $39.8 billion
in 2000.
Sales of diamond jewelry grew 1.5 percent; sales of pearl
jewelry and platinum jewelry each rose 1 percent. However,
watch sales were down 2.5 percent, loose gemstones declined 2
percent, and karat gold jewelry fell 1.5 percent. More than
half of jewelry (54 percent) continues to be sold through
jewelry stores, although this channel’s share declined
slightly in 2001.
Sales through department stores plummeted 30.9 percent, while
sales through discounters and mass merchants grew 17.6 percent.
Sales through non-store channels, such as TV, catalogs, the
Internet, and direct sales, grew 13 percent. Jewelry was
purchased by about half of consumers in 2001, with 39 percent
buying fine jewelry (which includes that made of precious or
semiprecious stones, 14K or above gold, sterling silver, or
platinum) and 31 percent buying costume jewelry. In 1999, 33
percent of consumers bought fine jewelry and 22 percent costume
jewelry.
Similar proportions of households bought jewelry for
themselves (28 percent) and as gifts (27 percent). Women are
far more likely to buy jewelry for themselves; men are more
likely to purchase it as gifts. Fine jewelry buyers purchased
an average of 3.9 items for themselves and 4.8 for others
during the past year.
Costume jewelry buyers made 6.7 purchases for themselves and
6.3 for others. People tend to spend more on jewelry when
buying gifts than they do when making purchases for themselves.
The average fine-jewelry purchase for personal use costs $485,
while gift purchases average $507. Costume jewelry costs an
average of $72 when bought for personal use and $126 when it is
a gift. Source: Research Alert, 10/18/02