AGTA/JCOC study finds key industry barriers remain in place
The JCOC study was conducted between September 18 and September 24, 2009 and was completed by 1,346 women.
“This study clearly identifies the need for stores to carry more selection of jewelry containing colored gemstones and cultured pearls and further defines the benefit of increased staff training. This study shows us that women shop to accessorize specific fashion outfits and need more selection and guidance from the store staff, ” says Douglas K. Hucker, AGTA CEO.
“There are many opportunities for our industry to increase sales with this growth demographic,” adds Mr. Hucker.
The JCOC study reports a significant majority of female self purchasers will purchase new shoes for themselves between 2-5 times (65%) in a typical year with an additional 12% saying they will purchase new shoes more than 5 times in a year.
The respondents say they will purchase a new dress or clothing outfit for themselves 2-5 times per year (45%) and 29% say more than 5 times per year. Yet, when asked how many times they would purchase jewelry containing colored gemstones or cultured pearls for themselves in a typical year the largest numbers are 1 time (23%), Not sure (19%) and None (23%).
“Clearly an opportunity exists for the jewelry industry to market to these self purchasing women particularly in light of the fact that the majority of those shopping for jewelry containing colored gemstones or cultured pearls may be shopping to accessorize a specific fashion outfit,” said Marty Hurwitz, CEO of MVI Marketing Ltd, the parent company of the JCOC.
Additional key findings from this research were:
35% of respondents still purchase jewelry containing colored gemstones or cultured pearls at local independent jewelry retailers, however 57% only sometimes find enough selection and choices and 61% only sometimes find prices within their budget
The 3 most important value drivers in importance to these consumers in terms of shopping for this product are:
- Knowing that the gemstone or pearls in the jewelry are real versus synthetic
- Having confidence in the person selling me the colored gemstone or pearl jewelry
- Being able to easily return or exchange a style of colored gemstone or pearl jewelry