So he went to Jared. So what? The woman in his life ain’t counting on him to bring home the bling. As holiday sales make up an increasingly smaller share of jewelry stores’ totals, it’s time to explore an interesting shift in purchasing patterns.
Women are doin’ it for themselves
Before, most jewelry purchases were made by men shopping for women on special occasions.
But now, more women buy their bijoux for themselves… and they buy it whenever the fancy strikes. In a survey by the retail group Yoox Net-a-Porter, more than 60% of women indicated they’d rather buy a piece of jewelry themselves than wait to receive it as a gift.
It’s a golden opportunity for some companies
Female-founded jewelry startup Mejuri engages its core customer base — women ages 18 to 35, 90% of whom are shopping for themselves — by introducing a new fine jewelry piece each week. It’s an unusual strategy in an industry where classics have cachet — Tiffany heart locket, anyone? — but it creates a sense that jewelry isn’t a special-occasion splurge but an everyday indulgence.
And Mejuri shoppers do indulge. A lot. The company sees 40% of its revenue from repeat customers, and its product waitlist totals 40k people.