The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Gemfields Commissions Study on US Colored Stone Market
It is trying to get a better sense of U.S. consumers’ buying habits and attitudes toward jewelry set with rubies, sapphires and emeralds.
London--Gemfields just released the results of a study it commissioned in the United States on consumers’ buying habits and attitudes toward jewelry set with rubies, sapphires and emeralds.
Conducted by a third party company, the study was designed to gauge the overall size and potential of the market and to better understand consumers’ beliefs and perceptions about the value, price and use of “precious” gemstone jewelry, meaning jewelry set with sapphires, rubies or emeralds.
The study surveyed a nationally representative sample of about 12,900 consumers between the ages of 21 and 64.
Of those, the survey found that about 31 percent had acquired jewelry featuring a ruby, emerald or sapphire within the past 24 months. That figure jumps to 41 percent for millennials, who also are almost twice as likely to use social media and mobile devices to research jewelry as non-millennials.
Precious colored gemstone jewelry also gets worn a lot, the study found.
Forty-three percent of women who own the gemstones wear their rubies, emeralds or sapphires every day, while 24 percent said they wear them at least once a week. Only 7 percent indicated that they only wear them on special occasions.
The study also found that 38 percent of U.S. consumers who purchased or acquired ruby, emerald or sapphire jewelry in the past two years actually got two pieces.
A total of 15 percent gained three pieces, and 10 percent acquired four or more pieces.
When it came to the most important attributes of a stone leading to purchase, color and clarity were tops--even more important than carat weight--while the stone’s country of origin was a significantly less influential factor.
The average price paid for a piece of jewelry with precious colored stones is $1,386, the study found.
When it’s a man making the purchase, that increases to $2,048, and for those who identify as affluent (household income of more than $100,000), it is $2,499.
In addition, half of U.S. consumers who have purchased in the last two years, and two-thirds of affluent consumers, indicated they are likely to buy another piece of ruby, sapphire or emerald jewelry within the next year.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.