The goal for this research was to gather Global Voices from jewelry retailers and consumers to understand their opinions on the biggest change to the fine jewelry industry since the early 90s when the Argyle Diamond mine came online.... Rapid acceptance of lab-grown diamonds (LGDs).
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U.S. consumers are excited about celebrating Valentine’s Day with 73% indicating that they will do something to celebrate. Thirty-seven percent said that they will spend more on giving gifts than they did last year. Valentine’s Day has historically been a dining out, flowers and chocolate holiday with jewelry coming in as a distant fourth. During the past 3 years of COVID, jewelry giving increased. This year’s research shows that jewelry is still a major gift category with approximately 25% of respondents planning to give fine jewelry as a gift. Almost all the jewelry will have gemstones with 38% mined diamonds and 16% lab grown diamonds. A larger percentage of women (28%) who indicated they would give jewelry chose lab-grown diamonds vs. 8% of men. “Many women see lab-grown diamond as their jewelry of choice for gifts,” said Liz Chatelain, President, THE MVEye who added, “The wide of assortment and price points have given them greater opportunity to give fine jewelry in recent years.” Of those giving jewelry, about 56% will spend over $300, while 44% will spend under $300. Men are the big spenders for jewelry: 74% say they will spend over $300 versus 29% of women who will spend that much. This research shows a projected spend increase for fine jewelry of 8% over 2022 and a 24% over 2018. Necklaces or rings are the top products selected for women and rings or bracelets for men. This study was conducted with over 300 U.S. consumers between the ages of 18 and 70.
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Silver Promotion Service sponsored this U.S. consumer research study to gauge the attitude toward and purchase intent for fine jewelry. The results show a high level of pent-up demand for jewelry, as well as intent to buy silver jewelry during the COVID-19 pandemic and after quarantines are lifted.
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This MVI Marketing study was deployed the day after Mother's Day 2020. The objective was to understand how fine jewelry and watches fared compared to other typical Mother's Day gifts and how COVID-19 affected the Mother's Day holiday.
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MVI recently completed another in a series of quantitative research studies with Luxury Self Purchasing Females (SPFs) to better understand the opportunity with this unique growth demographic for luxury consumer goods. This study focused on 4 key product segments: Jewelry, Handbags, Travel and Lab Grown Diamonds.
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JCK asked MVI Marketing to conduct consumer research on eight actual Christmas commercials (videos) from eight major jewelry brands. The companies/brands represented were: Forevermark, James Allen, James Avery, Jared, Kay Jewelers, Pandora, Swarovski, Tiffany&Co.
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Today’s consumers of food, household products and even cars are demanding to know more about the origin of the products they buy and how they came to market. Many of the major industries are now sharing this type of information with their retailers and consumers alike backed up by independent 3rd party verified marketing claims.
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The latest results of our July 2019 research, conducted with Millennial consumers on their mobile devices, show a continued growth in both awareness and acceptance of lab-grown diamonds as both a center stone for engagement rings and fashion jewelry category among self-purchasing females.
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In every new product launch there are identifiable, pivotal events that lead to their success, and 2018 was a landmark year for lab-grown diamonds. As the year progressed, lab-grown diamonds continued their unmistakable upward trajectory demonstrated by increased acceptance among diamond dealers, jewelry manufacturers, retailers and most importantly, consumers.
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MVI Marketing LLC conducted this research study to assist luxury brands to better understand and communicate with young luxury consumers.
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In this study, we asked younger male and female consumers in the USA about their awareness of and interest in lab grown diamonds.
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It is projected that Hispanics will account for 30 percent of the total USA population by 2050. With 44 million Hispanics in the USA today, having the ability to reach the Hispanic consumer is invaluable to any jewelry retailer, manufacturer or consumer brand.
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