Jewelry - US - August 2010
The U.S. retail jewelry market continues to struggle through the economic recession as consumers continue to limit discretionary spending and the price of precious metals remains high. Brick and mortar stores are also losing ground to online merchandisers as shoppers use the internet to do their comparison shopping and ultimately make the entire transaction through purchase online. In this report, Mintel takes a look at the jewelry market projected to reach $49.3 billion in 2010, showing growth this year for the first time since 2007. Among other things, this report looks at the following:
- The ways in which gold prices have affected what the consumer is seeing in stores
- In what sectors the recession is having the most impact and why certain consumers are returning to jewelry counters
- How the surge in eco-friendly and eco-conscious consumer goods is impacting the jewelry market
- Why the watch market is struggling to increase sales and why this is an uphill battle.
- What type of jewelry is most popular among women in general, as well as among those in various age groups
- Which retail outlets are more appealing to the younger set and which tried-and-true retail channel the oldest consumers continue to embrace
- What type of jewelry is most popular among Hispanics and where black consumers prefer to shop.
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