It’s no secret that consumers shop differently depending on age, gender, and where they live in the country, and when it comes to buying jewellery, that rule certainly applies.
Helping to shed light on some of the trends in the industry, buying group the Company of Master Jewellers recently did a survey with consumers up and down the country.
According to its findings men tend to spend more money on jewellery across the board – in particular when celebrating an anniversary. The average amount men spend on jewellery is £151 compared with women who are likely to spend £114.
And Scots are the most romantic of all; with Glasgow men topping the spending list for an anniversary gift at £209.
Liverpudlians however top the birthday gift charts by spending an average of £187, while Londoners are most likely to spend the most on their mothers and themselves, with an average spend of £131 and £226 respectively.
Residents of Plymouth spend the least amount on themselves, and for Mothers’ day on jewellery, coming in at £46. Likewise, people from Norwich spend the least at Christmas (£58) and those from Edinburgh are only likely to fork out an average of £73 for a birthday gift.
The average cut off point to go from online to the high street to buy an item of jewellery for the 35 – 44 year-olds is £459, the highest of any age bracket. The lowest is £259 for those over 65 years of age. Londoners as a whole are likely to go up to £668. For watch purchases however, it’s the 16 – 24 year olds who have the highest cut off point with an average price of £462.
CMJ chief exec, Terry Boot, comments: “There is clearly a difference in perspective across the age ranges. For the over 65s to have the lowest threshold perhaps suggests that they hark back to the days of customer service coupled with the need to examine quality.
“Watch purchases for the younger demographic may be driven by brand status, suggesting they are willing to trust a recognised brand up to a certain point before the need to visit a high street store.
“This age group has been brought up in an era where the magnifying glass is continually looking at the way things are produced too, which is why they are more concerned about ethical manufacturing and willing to pay the most to ensure the process is as water tight as it can be.”
News Source : professionaljeweller.com