topic Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says in Community Chat

Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

------ — Thu, 26 Jun 2014 18:55:14 GMT

Interesting article from JCK Magazine. I agree that younger people are less interested in fine jewelry and more interested in other things.

High-earning members of the millennial generation are showing less interest in jewelry than previous generations, according to a new survey commissioned by Unity Marketing.

In a survey that asked which product categories affluent millenials (ages 24–34) get “much enjoyment” from, jewelry ranked last, with a rating of 63, below fashion and clothing, travel, and fine dining.

Affluent baby boomers (ages 55–70) showed far more interest in jewelry. That audience gave the category a score of 88, higher than fashion and clothing, which received a score of 78.

“The jewelry industry has a real problem relating to these consumers,” says Unity Marketing president Pam Danziger. “This is a whole new generation, and they are already disrupting the way we do retail. Many brands think that if they have a Facebook page or Twitter account they will be reaching millennials. You need to understand them more deeply.”

She even thinks that De Beers’ classic slogan, “A Diamond Is Forever,” may have less resonance for this generation.

“Just because it worked for granddad and it worked for dads doesn’t mean it will work for the kids,” she says. “This generation is delaying and forgoing marriage. The whole idea that marriage is forever and love is forever, I don’t know this generation is buying that.”

She advises the industry learn more about these consumers and find ways to enhance their shopping experience.

“It seems to me going to a jewelry store is a painful experience,” she says. “It’s not something that you want to do, it’s something that you have to do. It requires homework. Look at how stores have made shopping for wedding dresses a fun thing. The industry should find connections with retailers who are doing well with this generation.”

As for companies that have resonance with younger consumers, she cited Hearts On Fire, because it stresses brilliance rather than the four C’s.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

deepwaterdotter — Thu, 26 Jun 2014 19:04:58 GMT

I am acquainted with some younger people who are very talented at creating their own jewelry. Their items utilize more affordable materials in unique designs.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

FlowershopGirl — Thu, 26 Jun 2014 19:05:37 GMT

I'm 44 this year and I love jewelry as an accessory so I like fashion jewelry. My mom loved the fine jewelry but I have no interest in it at all. Several of her pieces I have kept for my niece, if she has interest later, but much of it I sold or consigned because like the 22-34 generations quoted in this report, my focus is more on travel and fashion. I tend to focus on donating to many animal causes too.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

tansy — Thu, 26 Jun 2014 19:08:42 GMT

A little off your topic but Costco is trying to figure out how to get the Millennials interested in shopping there.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Marienkaefer2 — Thu, 26 Jun 2014 19:10:35 GMT

Well, I'm a Gen Xer, and I've always felt this way about jewelry. In fact, so have most of my friends, and my family as well. We're all different economic backgrounds as well. Most of us could probably afford it, but don't buy it.

As for the marriage is not forever theme, as a GenXer, I can also say that in my experience, most of my friends felt the same way. We were the first gen where divorce started to become more common, and a lot of us came from families with less than the typical Hallmark ideal.

So maybe this is a trend that has been evolving for awhile.

However, that doesn't mean I don't admire a beautiful gemstone.

Edited by me.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Irshgrl31201 — Thu, 26 Jun 2014 19:17:03 GMT

I am 44 and a generation x'er too. There was a time when I really didn't care but now I am obsessed with art deco period jewelry. I couldn't afford estate stuff in my 20's and most of my 30's but now I love it and I love the quality.

I have a good mix of everything.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

151949 — Thu, 26 Jun 2014 19:20:19 GMT

My experience with my nieces and nephews is that they prefer to spend their money on electronics and entertainment over spending on clothing and jewelry. They are professional people with good incomes but no one I know has unlimited resources so they chose what is important to them.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

lulu2 — Thu, 26 Jun 2014 19:21:52 GMT

While they may be be interested in jewelry per se, when it comes to engagement rings their rings are bigger and flashier than when we were engaged in 1970.

Both males and females seem to like big name status watches.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

straykatz — Thu, 26 Jun 2014 19:22:26 GMT

I think the younger generation is also much more casual in their dress too.....look around the workforce....most companies now have casual dress codes......gone are the days of dressing up/suits/ties, etc....and not everyone thinks you need jewelry to pull together a polished look...less is best...a more simple way...hence...casual.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Marienkaefer2 — Thu, 26 Jun 2014 19:25:28 GMT

On 6/26/2014 Irshgrl31201 said:
I am 44 and a generation x'er too. There was a time when I really didn't care but now I am obsessed with art deco period jewelry. I couldn't afford estate stuff in my 20's and most of my 30's but now I love it and I love the quality.

I have a good mix of everything.

I think that's cool...And different.

In my post I was thinking of the typical fine jewelry out in the marketplace. And buying lots of it. Not that there's anything wrong with that...We all have our tastes.

But you are talking about specialized collections.

I love local artisan made jewelry and Native American jewelry...Navajo, Hopi...

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Irshgrl31201 — Thu, 26 Jun 2014 19:29:48 GMT

On 6/26/2014 Marienkaefer2 said:
On 6/26/2014 Irshgrl31201 said:
I am 44 and a generation x'er too. There was a time when I really didn't care but now I am obsessed with art deco period jewelry. I couldn't afford estate stuff in my 20's and most of my 30's but now I love it and I love the quality.

I have a good mix of everything.

I think that's cool...And different.

In my post I was thinking of the typical fine jewelry out in the marketplace. And buying lots of it. Not that there's anything wrong with that...We all have our tastes.

But you are talking about specialized collections.

I love local artisan made jewelry and Native American jewelry...Navajo, Hopi...

OMG I love that too. I also love Navajo and Hopi as well as Zuni. I just got a beautiful Zuni cuff. My brother lives in NM and we visit him about once or twice a year and visit all the great artisans in Albuquerque and Santa Fe. I could walk around those shops forever.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

scotttie — Thu, 26 Jun 2014 19:32:11 GMT

There is much talk about this in the jewelry business I can attest to that. Sales are hurting badly.

I also recently read that expensive clothing like high end blue jeans etc are not so popular with a lot of the young people anymore (wish my girl would get the memo LOL) and it is because they want to spend their money on all the electronics etc.

Even getting drivers' licenses is not as big a deal with the younger generation from what we have observed in my family and friends as well.

****thanks for posting this article gato do you have a link? I would like to pass it on.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Marienkaefer2 — Thu, 26 Jun 2014 19:36:10 GMT

On 6/26/2014 Irshgrl31201 said:
On 6/26/2014 Marienkaefer2 said:
On 6/26/2014 Irshgrl31201 said:
I am 44 and a generation x'er too. There was a time when I really didn't care but now I am obsessed with art deco period jewelry. I couldn't afford estate stuff in my 20's and most of my 30's but now I love it and I love the quality.

I have a good mix of everything.

I think that's cool...And different.

In my post I was thinking of the typical fine jewelry out in the marketplace. And buying lots of it. Not that there's anything wrong with that...We all have our tastes.

But you are talking about specialized collections.

I love local artisan made jewelry and Native American jewelry...Navajo, Hopi...

OMG I love that too. I also love Navajo and Hopi as well as Zuni. I just got a beautiful Zuni cuff. My brother lives in NM and we visit him about once or twice a year and visit all the great artisans in Albuquerque and Santa Fe. I could walk around those shops forever.

Oh yes, I love New Mexico! I am from Arizona, and I had my favorite places to go to find this jewelry too. I miss doing that.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Marienkaefer2 — Thu, 26 Jun 2014 19:38:54 GMT

On 6/26/2014 scotttie said:
There is much talk about this in the jewelry business I can attest to that. Sales are hurting badly.

I also recently read that expensive clothing like high end blue jeans etc are not so popular with a lot of the young people anymore (wish my girl would get the memo LOL) and it is because they want to spend their money on all the electronics etc.

Even getting drivers' licenses is not as big a deal with the younger generation from what we have observed in my family and friends as well.

****thanks for posting this article gato do you have a link? I would like to pass it on.

scotttie,

I know what you mean about driver licenses. Some friends of ours have kids in their twenties. Neither has a driver's license, and neither wants one. They live in a major city, so no problem getting around with public transportation. But one may have to start driving for her job, and so it's a bit of a problem.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Puzzle Piece — Thu, 26 Jun 2014 19:39:30 GMT

I'm a baby boomer - late baby boomer. We have had certain philosophy's preached to us and blah blah. The younger gals want us to leave them our jewelry and accessories. They want to spend their money on cosmetic surgery and the like.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

golding76 — Thu, 26 Jun 2014 19:44:57 GMT

I would suspect that men's suits have taken a hit as well, what with the casual attire worn in companies that are run completely differently from the old models. Quick: Picture Mark Zuckerberg. What is he wearing?

Many millennials use his model for business as their own -- from the personal schedules to attire.

I suppose ladies wear, too, has taken a hit.

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

scotttie — Thu, 26 Jun 2014 19:45:35 GMT

On 6/26/2014 Marienkaefer2 said:
On 6/26/2014 scotttie said:
There is much talk about this in the jewelry business I can attest to that. Sales are hurting badly.

I also recently read that expensive clothing like high end blue jeans etc are not so popular with a lot of the young people anymore (wish my girl would get the memo LOL) and it is because they want to spend their money on all the electronics etc.

Even getting drivers' licenses is not as big a deal with the younger generation from what we have observed in my family and friends as well.

****thanks for posting this article gato do you have a link? I would like to pass it on.

scotttie,

I know what you mean about driver licenses. Some friends of ours have kids in their twenties. Neither has a driver's license, and neither wants one. They live in a major city, so no problem getting around with public transportation. But one may have to start driving for her job, and so it's a bit of a problem.

Where I live it's pretty much a must to be able to drive but the kids are putting it off longer and longer. It's just not important as long as mom and dad will haul them around LOL . I don't mean none of the kids do, but I remember when I was a kid it was like you would DIE if you didn't get your license LOL!

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

------ — Thu, 26 Jun 2014 19:46:45 GMT

scottie, here's your link:

http://www.jckonline.com/2014/06/25/millennials-less-interested-in-jewelry-than-prior-generations-survey-says

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

Marienkaefer2 — Thu, 26 Jun 2014 19:49:14 GMT

scotttie, I agree. Where I lived too...everyone wanted their license.

I had to have it for work and school, as my high school was out of the district where we lived.

My parents NEVER hauled us around. At 17 I got a beater car...$1000 if I remember.....lol...And off I went!

Re: Millennials Less Interested in Jewelry Than Prior Generations, Survey Says

scotttie — Thu, 26 Jun 2014 19:49:15 GMT

On 6/26/2014 ------ said:
scottie, here's your link:

http://www.jckonline.com/2014/06/25/millennials-less-interested-in-jewelry-than-prior-generations-survey-says

Thank you! I have some friends who might be able to use this info.