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New jewelry market


#1

Orchid members,

WSJ, Thursday, August 18, had an article about an emerging jewelry
market. The article is in Section D1. The article states two-thirds
of jewelry is sold to men around holidays but a market is emerging of
women who buy jewelry to treat themselves.

A market-research firm Mintel has named the emerging group “Just
Because” and indicates the group is made up of professional women age
45 and up.

The article states “the typical jeweler is based on men designing for
men who feel guilty enough to buy their women jewelry…”

The new marketing is focusing on targeting “women who don’t need to
go home and ask for permission to buy”.

The article discusses increased sales at several stores including
Bergdorf Goodman, Ippolita, trunk shows by Ivanka Trump, Kay
Jewelers, Signet and J.C. Penny.

It’s an encouraging read.

Best,
MA


#2

Mary- This is a something that I have been talking about for years
now. When I started in the trade,in 1969, pretty much ALL jewelry was
manufactured,designed and purchased by men for women.

Now? It’s a whole new game. The market is not just emerging, it’s
here now, and has been growing for 2-3 decades.

With the divorce rate at 50% most smart women have figured out that
Prince Charming is not going to ride in on his mighty steed and whisk
you away to live in the lap of luxury for ever.

My friends Jacqui and Trish who own Ave Five Jewelry here in
Portland have done very well in a tiny store situated in the middle
of a big office bldg in the finance district here. They have thrived
because they knew that the business model has changed. They cater to
professional women who are gifting themselves.

I don’t know how much Mintel charged for their little survey, but
I’ve been telling every one that will listen for free that this was
happening for years now.

Though our skills and techniques are very old world, we need to stay
aware of the rapidly changing world if we wish to thrive. Look at all
of the retailers who have failed by not embracing the internet. Same
will hold for those who don’t keep up with changes in society.

With the emerging market of same sex marriages there will be a boon
in new commitment style rings. It’ll take a while, but it will be
here. A new market that is 10% of the general population. That’s a
lot of people.

Have fun and make lots of jewelry.

Oh, and that group of women over 45? They are also the ones who are
driving a huge amount of the tattoo business. You’d be amazed at how
many middle aged women are gifting themselves with tattoos.

Jo Haemer
timothywgreen.com