Study Details Gender Jewelry Buying Habits

The jewelry and watch market requires marketers to target men and women differently because their needs and shopping habits are uniquely different, according to a recent study by Unity Marketing.

The research firm's latest report, Jewelry Report 2004: The Who, What, Where, How Much and Why of Jewelry Shopping, lists what some of us might take for granted, but adds that there is plenty of opportunity in the differences in purchasing behavior of men and women.

Some of the key findings are that men buy mostly fine jewelry items as gifts for women, while women buy jewelry for themselves and are about equally likely to buy themselves either fine or costume jewelry.

A second finding is that women’s jewelry dominates the market, accounting for nearly 90 percent of the dollar volume in 2003, while men’s jewelry is only 10 percent of the total market. What little men’s jewelry is sold is purchased only by men as women just don’t buy jewelry as a gift for men.

According to another key finding, women buy more jewelry pieces per year, but men spend a lot more money. Men who buy jewelry spend twice the amount spent by women every year.

Pam Danziger, president of Unity Marketing, views such research findings as presenting marketing opportunities for jewelry marketers and retailers.

“For example, the time is right to position jewelry as a gift for women to give a man.  The emergence of the ‘metrosexual’ male who is interested in fashion and grooming, along with men’s shopping magazines like Cargo and television make-over shows like What Not To Wear which feature men for fashion rehabilitation, signal a ripe opportunity to capitalize on this trend,” she says.

“Another prime opportunity,” she adds, “is to develop strategies to increase women’s spending on the jewelry that they buy themselves.”