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Below is a photo taken during my recent American Gem Society Conclave experience. As I suspected, my friends from Spotrunner and I look a bit bedraggled in comparison to the stunning, young model bedecked with jewels. Still, I thought you might get a kick out of it.
In the meantime, here are some random notes I took at a great breakfast presentation by the Diamond Promotion Service(DPS):
1) Of 1,000 men and women, more women than men considered themselves engaged when polled. (communication breakdown, perhaps?)
2) 50% of men shopped for engagement rings at three or more stores, and most important to men was that the retailer could demonstrate why the price was fair.
3) DPS cited a great word, "indie-filiation," to describe the younger generation's desire to be distinctive with their engagement rings... just like their friends - aka "vanilla with sprinkles." (We see this desire to be "unique, but not" phenomenon, especially with regard to the younger generations, in other industries as well.)
4) The average price of an engagement ring purchase goes up when women are involved in the process.
Do any of these points resonate with you/your business?
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Comments
Ah yes, the jewelery world. I worked in that world a bazillion years ago as a designer for a small company. Brings back memories...
Anyway, to the point...
1) More than 50% men swear up and down that their wives gave them permission to buy that expensive new bike.
2) Yes, more men than women will drive around town for days, weeks or even months until they find the retailer they believe is giving them the best deal.
3) More and more, now that the market has become over saturated with big brands like Trek or Specialized, consumers are seeking "something different". (I frequently remind people that my brand is truly different... no really, I swear.)
4) If the man brings his wife/ girlfriend with him, the price of his bike goes down and the price of hers goes up.
5) I made all of this up... sort of.
Posted by: Tim Jackson | 05.22.07