Article Summary:

The jewelry industry is witnessing a shift in its market dynamics as a growing number of women, particularly professional women aged 45 and above, are increasingly buying jewelry for themselves. This trend is challenging the industry's traditional focus on men purchasing jewelry for women during holidays. The article explores this emerging trend and the efforts of some jewelers to adapt their strategies to cater to self-purchasing women.

Major Bullet Points:

• Changing Dynamics:
  • Growing trend of women purchasing jewelry for themselves.
  • Shift from traditional focus on men buying during holidays.
• "Just Becausers" Trend:
  • Mintel identifies a group of women making jewelry purchases for no specific occasion.
  • 59% of jewelry purchases by this group were unplanned.
• Women's Perspective:
  • Women view jewelry purchases as investments or emotional choices.
  • Preferences for unique earrings and stackable rings for everyday wear.
• Industry Challenges:
  • Industry historically designs for men; needs to adjust messaging.
  • Move away from exclusivity and unbranded pieces.
• Brand Targeting:
  • Some jewelers targeting women buyers.
  • Examples include H. Stern's ads featuring strong women and Ivanka Trump Collection's trunk shows.
• Retail Landscape Changes:
  • Double-digit sales growth at major retailers due to increasing women buyers.
  • Shift towards 50% store space dedicated to branded jewelry.
• Blurring Fashion and Fine Jewelry:
  • Jewelry brands treating products as fashion with seasonal releases.
  • Blurring lines between "fashion" and "fine" jewelry.
• Materials Innovation:
  • Rising popularity of silver, platinum alloys, and treated diamonds.
  • J.C. Penney's successful Platinaire alloy, expanding to mainstream.
• Affordable Luxury:
  • Use of proprietary metals providing affordable luxury.
  • Armenta's successful launch at Bergdorf Goodman, mainly attracting women buyers.

Conclusion:

Overall, the article highlights the growing trend of women purchasing jewelry for themselves, prompting changes in industry strategies and offerings.