Schedule a web meeting time with THE MVEye CEO Marty Hurwitz after the show. Marty Hurwitz is a subject matter expert on lab-grown diamonds and the technologies and processes currently operating and in development in the prime growing sectors. He also publishes the highly regarded Lab-Grown Diamond Market Intel Report.
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It’s Show Time Again and The Jewelry Business is Coming Out to Play Industry trade shows are alive and well in 2023. The jewelry industry trade shows are alive and well in 2023, according to a recent market research study conducted by THE MVEye (MVI Marketing LLC). The study, completed by members of the jewelry trade, including retailers, wholesalers, designers, and manufacturers, focused on their likelihood to attend jewelry trade shows in 2023. "The results of this study are very encouraging for the jewelry industry," said Liz Chatelain, President of THE MVEye. "Despite the challenges faced by the industry in recent years, it is clear that trade shows remain a vital part of the business landscape."
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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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Our objective with this research study was to understand the lab-grown diamond industry's use of and commitment to Rap pricing.
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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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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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Diamond studs: a staple in many women’s jewelry boxes and a staple for most every jewelry retailer. Yet, “it is time to rethink the stud category!” according to 66% of jewelers surveyed in May 2019.
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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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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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