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Jewelry in the United States 2008 Provides Predictions on How Specific Developments and Trends Will Impact Future Growth of the Jewelry Sector DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ff0575/jewelry_in_the_uni)
has announced the addition of the "Jewelry in the United States 2008"
report to their offering. The jewelry sector spans everything from inexpensive costume pieces for everyday wear, to special items such as engagement rings and watches designed to commemorate special occasions, to investment level pieces priced and sold like fine art. This report summarizes market size and key product and growth trends for the jewelry sector, based on industry research as well as the author's proprietary consumer research. Analysis provided in this report include: - Market size figures from 2002-07, both overall and by product segment, as well as projected growth of the sector through 2012. - The impact that a difficult economy and record-high prices for precious metals will have on this highly discretionary product sector, including the importance of high net worth consumers. - Trends and changes in how jewelry is sold, including a detailed breakdown of sales by retail channel. Additional issues discussed include the growing importance of online selling, new emphasis on branded designer products as compared to unbranded/store brand products, and new approaches on merchandising jewelry in retail stores. - Product developments and customer preferences, including new interest in silver and semi-precious stone jewelry as well as detailed data by demographic on types and materials of jewelry purchased. - Factors motivating consumer purchase behavior, including whether jewelry is bought for oneself, for a gift, or for a wedding or other occasion; key factors considered when buying a piece of jewelry; and general attitudes towards shopping for and buying jewelry. Whenever possible, this report provides predictions on how specific developments and trends will impact future growth of the jewelry sector and also provides suggestions on strategies jewelry companies can adopt to remain successful during a challenging economy. Key Topics Covered: Scope and Themes What you need to know Definition Data sources Sales data Consumer survey data Abbreviations and terms Abbreviations Executive Summary Overview A market in decline Jewelry stores remain the primary channel Multi-tiered marketing strategies Diverging purchase behavior and tastes Market Size and Forecast Future growth likely to be tempered by weak economy Less for more Race to the top Figure 1: Total U.S. sales and forecast of jewelry, at current prices, 2002-12 Figure 2: Total U.S. sales and forecast of jewelry, at inflation-adjusted prices, 2002-12 Competitive Context Redefining value It’s all about accessorizing A new global marketplace Figure 3: Global and U.S. revenue for leading luxury brands, 2006 Preserving their independents Segment Performance—Overview Market focus shifts to high end products Pinched in the hourglass The most bang for the buck U.S. sales and forecast of jewelry Figure 4: U.S. sales and forecast of jewelry, at current prices, by segment, 2002-12 Figure 5: U.S. sales of jewelry, by segment, 2005 and 2007 Segment Performance—Gemstone Jewelry Gemstones continue growth, despite poor economy Diamonds are forever, but colored stones are for fun U.S. sales and forecast of gemstone jewelry Figure 6: U.S. sales and forecast of gemstone jewelry, 2002-12 Segment Performance—Costume Jewelry Costume sales struggle, future area for potential growth Fashion’s victim Short-term impact from lead scandal U.S. sales and forecast of costume jewelry Figure 7: U.S. sales and forecast of costume jewelry, 2002-12 Segment Performance—Karat Gold Jewelry High cost hurts karat gold segment Gold prices hit the ceiling U.S. sales and forecast of karat gold jewelry Figure 8: U.S. sales and forecast of karat gold jewelry, 2002-12 Segment Performance—Watches Watches enjoy steady growth The sky’s the limit Creating a watch wardrobe U.S. sales and forecast of watches Figure 9: U.S. sales and forecast of watches, 2002-12 Segment Performance—Other Jewelry Interest in alternative metals drives “other” jewelry sales Silver is no longer second best Palladium gains in popularity U.S. sales and forecast of other jewelry Figure 10: U.S. sales and forecast of other jewelry, 2002-12 Retail Channels—Overview Key points HNW audience, gift buyers maintain jewelry stores Sales of jewelry by retail channel Figure 11: U.S. sales of jewelry, by retail channel, 2005 and 2007 Retail channel choices shift by demographic Figure 12: Retail channels through which jewelry is purchased, by gender, age and household income, November 2007 Retail Channels—Jewelry Stores Key points Both sides of the hourglass New strategies for new competition Sales of jewelry at jewelry stores Figure 13: U.S. sales of jewelry at jewelry stores, 2002-07 Retail Channels—Department and Clothing Stores Key points Department stores in the decline Figure 14: Shopping behavior at leading department stores, 2007 Sales of jewelry at department stores Figure 15: U.S. sales of jewelry at department stores, 2002-07 Sales of jewelry at clothing stores Figure 16: U.S. sales of jewelry at clothing stores, 2002-07 Retail Channels—Discounters and Mass Merchandisers Key points A season for savings Figure 17: Shopping behavior at leading discount stores, 2007 Sales of jewelry at discounters and mass merchandisers Figure 18: U.S. sales of jewelry at discounters and mass merchandisers, 2002-07 Retail Channels—Non-Store and Other Retailers Key points Going wide on the Web A starring role for TV Sales of jewelry at non-store and other outlets Figure 19: U.S. sales of jewelry at non-store outlets, 2002-07 Figure 20: U.S. sales of jewelry at other stores, 2002-07 Market Drivers An economy in decline Figure 21: Consumer sentiment index, 2001-07 Skyrocketing prices for raw materials Figure 22: Average annual London fixed prices for precious metals, 2002-08 HNWIs and the “hourglass effect” Figure 23: Number and assets of individuals with household assets of $1m or more, 2002-06 Declining marriage rates Figure 24: Number of marriages in the U.S., 2002-06 Leading Companies Key points Overview Future growth opportunities and trends Figure 25: Sales of leading jewelry companies, 2005 and 2006 Figure 26: Luxury jewelry and watch brands owned, by gender, age and household income, November 2007 Brand Qualities Cartier H. Stern Tiffany & Co. Zales Innovation and Innovators David Yurman Subversive Jewelry FemmeGems Advertising and Promotion Overview Figure 27: Advertising spending by leading jewelry and watch retailers, 2005 and 2006 Advertising strategies Television advertising A Diamond is Forever/De Beers Figure 28: Diamond is Forever Journey Necklace TV ad, 2007 Helzberg Figure 29: Helzberg Diamonds TV ad, 2007 Macy’s Figure 30: Macy’s Jewelry TV ad, 2007 Rolex Figure 31: Rolex Watch TV ad, 2007 Zales Figure 32: Zales TV ad, 2007 Items of Jewelry Purchased Fine jewelry purchased Figure 33: Mean number of items of fine jewelry purchased in past 12 months, by reason for purchase, by gender, age, household income and race/ethnicity, March 2008 Watches purchased Figure 34: Mean number of watches purchased in the past 12 months, by reason for purchase, by gender, age, household income and race/ethnicity, March 2008 Jewelry Purchases Types of jewelry purchased Figure 35: Types of jewelry purchased in past 12 months, by gender, March 2008 Figure 36: Types of jewelry purchased in past 12 months, by age, March 2008 Earrings Figure 37: Types of earrings purchased in the past 12 months, by gender, March 2008 Necklaces Figure 38: Types of necklaces purchased in the past 12 months, by gender, March 2008 Bracelets Figure 39: Types of bracelets purchased in the past 12 months, by gender, March 2008 Rings Figure 40: Types of rings purchased in the past 12 months, by gender, March 2008 Buying Behavior Retail channels most frequently used for jewelry purchase Figure 41: Channels through which jewelry is purchased most often, by gender, March 2008 Figure 42: Channels through which jewelry is purchased most often, by age, March 2008 Figure 43: Channels through which jewelry is purchased most often, by household income, March 2008 Factors influencing jewelry purchase Figure 44: Factors influencing jewelry purchase, by gender, March 2008 Figure 45: Factors influencing jewelry purchase, by age, March 2008 Figure 46: Factors influencing jewelry purchase, by household income, March 2008 Attitudes and Motivations Attitudes towards buying jewelry Figure 47: Attitudes towards buying jewelry, by gender, March 2008 Figure 48: Attitudes towards buying jewelry, by household income, March 2008 Reasons for jewelry purchase Figure 49: Reasons for jewelry purchases, by gender, March 2008 Satisfaction with jewelry purchase Figure 50: Levels of satisfaction with jewelry purchase, by gender, age, household income and race/ethnicity, March 2008 Wedding Jewelry Figure 51: Types of wedding jewelry purchased, March 2008 Appendix: Other Useful Consumer Tables Separate jewelry item purchases for self and for others Figure 63: Items of jewelry purchased for self in the past 12 months, by gender and age, March 2008 Figure 64: Items of jewelry purchased for someone else in the past 12 months, by gender and age, March 2008 The impact of household income on types of jewelry purchased Figure 65: Types of jewelry purchased, by household income, March 2008 Attitudes towards buying jewelry by respondent age Figure 66: Attitudes towards buying jewelry, by age, March 2008 Appendix: Trade Associations Companies Mentioned: - "ShopNBC " - American Gem Society - AnnTaylor Inc - Banana Republic - Bloomingdale's - Breitling Uk Ltd - Bulgari S.p.A. [Bvlgari] - Burberry (USA) - Calvin Klein, Inc. - Cartier SA - Chanel USA - Chico's FAS, Inc. - Chopard & Cie SA - Citizen Watch UK Ltd - Clarins USA - Coach, Inc. - Costco Wholesale Corporation - de Beers - Diamond Trading Company - Dillard's, Inc - Electronic Retailing Association - Gap (USA) - Gianni Versace S.p.A. - Giorgio Armani S.p.A. - Gucci Group N.V. - J C Penney Company, Inc - Kenneth Cole Productions, Inc. - Kmart Corporation - Kohl's Corporation - Limited Brands Inc - Lord & Taylor - LVMH Moat Hennessy Louis Vuitton SA - Macy's, Inc. - May Department Stores Company, The - Merrill Lynch & Co. Inc - Montres Rolex S.A. - Moschino - National Retail Federation (NRF) - Nordstrom - Omega Ltd - Polo Ralph Lauren Corporation - Prada USA Corp. - QVC USA - Richemont Group - Saks Incorporated - SAM's Club - Sears Holdings Corporation - Signet Group - Stephen Webster - Swatch - TAG Heuer International SAÂ - Target Corporation - The Neiman Marcus Group Inc - Tiffany & Co. - Tommy Hilfiger Corporation - U.S. Bureau of Labor Statistics - U.S. Bureau of the Census - Unity Marketing - US Department of Labor - Van Cleef & Arpels - Wal-Mart Stores (USA) - Women's Wear Daily (WWD) - Zale Corporation - Zales For more information visit http://www.researchandmarkets.com/research/ff0575/jewelry_in_the_uni. Contact: Research and Markets Laura Wood Senior Manager press@researchandmarkets.com Fax from USA: 646-607-1907 Fax from rest of the world: +353-1-481-1716 Source: Research and Markets Ltd.
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