Fashion

Save E-mail Print Most Popular RSS Reprints

Bridal market to fuel jewelry sales in 2008

March 07, 2008

Similar Stories | Topics

New York—Experts predict jewelry sales will increase in 2008, despite the sluggish U.S. economy, thanks in large part to the bridal category.

The International Diamond Exchange forecasts a 3 percent increase in U.S. jewelry sales, from $64 billion in 2007 to $65.9 billion in 2008.

According to industry analyst Ken Gassman, Millennials—the children of Baby Boomers—are likely to spend heavily on bridal jewelry since they are wealthier than preceding generations.

Gassman also predicts 30 percent growth in the number of weddings that will take place within the next 10 years.

A Condé Nast Bridal Group study revealed that the amount spent on bridal jewelry has grown more than 60 percent in recent years, with 81 percent of consumers surveyed saying they desire platinum for their engagement and wedding jewelry.

Platinum Guild International (PGI) says the strengthening bridal market is good news for platinum since choosing a metal is among consumers' primary considerations when purchasing bridal jewelry.

PGI says designers such as Scott Kay, Phyllis Bergman and Ritani have widened their platinum assortment and are offering the metal in lighter-weight designs and lower price points to appeal to price-conscious consumers.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Fashion

Lori Bonn Design hires new execs

Oakland, Calif.--Lori Bonn Design has announced the addition of two new executives to its growing operation, with the company saying the move will enable Lori Bonn Design to fully capitalize on the considerable expansion it expects to undertake in the next year and beyond. Read More

Trent West, Penney's settle tungsten carbide suit
Singer snags six pieces at Madoff auction
More Fashion News

More Like This

PGI names winners of first Basel platinum awards
April 07, 2009 | National Jeweler Network
Precious-metals marketers take latest ads online
December 17, 2008 | National Jeweler Network
PGI launches multimedia platinum campaign
October 17, 2008 | National Jeweler Network
PGI reveals innovative pieces at lower prices
November 08, 2007 | National Jeweler Network
PGI preps TV stars with platinum
September 14, 2007 | National Jeweler Network
TOPICS
Clothing Accessories | Culture and Lifestyle | Fashion and Style | Jewelry

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement