The global market for jewellery these past years has been fluctuating a lot, but there seems to be a trend helping the overall growth of diamonds and jewellery significantly. That is the act of self-purchasing. In fact, more and more people buy diamonds and jewellery for themselves.
- How does self-purchasing affect the global market?
- Why is it a trend to buy diamonds for yourself today?
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How does self-purchasing affect the global market?
It appears that today, one-third of all sales made in the US are acts of self-purchasing. This is considerably affecting the market in a positive way as it opens the doors to many more segments of the population that can be considered potential buyers.
In a survey that was conducted by MVI Marketing this July 2018, it was shown that of the 1001 ladies that responded to the online survey, 51% regularly bought diamonds and jewellery for themselves.
This, of course, is only a sample of all the women out there that are self-purchasing, but it is an excellent example of the need to consider these empowered women as part of the new demographics of Luxury Growth of the future.
Why is it a trend to buy diamonds for yourself today?
Who are these empowered women and why do they buy diamonds or jewellery for themselves? They seem to be economically strong or independent women, mainly between the ages of 25 to 45, who will not wait around for someone else to buy them what they desire.
The top three reasons why they are buying for themselves are: a) so they can choose exactly what they like, b) because they can and 3) to celebrate an important milestone in their personal or professional life. Buying diamonds or jewellery for yourself is culturally acceptable in today’s modern society and helping the global market considerably, increasing those very much needed sales for the industry as a whole.
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