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Study: Bridal market recession-proof?

June 19, 2009

Paso Robles, Calif.--The bridal market, often deemed "recession-proof," is starting to feel the effects of the current economic downturn, according to the latest report from the Jewelry Consumer Opinion Council (JCOC).

The report, titled "June Bridal Study," shows that 71 percent of respondents will proceed with their wedding, or weddings they're involved in, despite the recession.

However, 13 percent of respondents said their wedding was being postponed by six months or more due to current economic conditions, and 9 percent said their wedding was being postponed indefinitely.

In addition, almost half of the respondents stated that despite the recession, their overall wedding budget would be about the same, while 28 percent said it would be lower.

Regarding ring budgets for the wedding, a clear gender gap emerged in the JCOC's research results.

Thirty-six percent of grooms plan on spending about the same for the wedding rings despite the recession, versus 52 percent of brides who feel the same.

Meanwhile, 36 percent of grooms said their ring budget is lower by fifteen percent or more due to the recession, while only 23 percent of brides thought the budget for the rings would be lowered that much.

Brides and grooms also differ when it comes to where the wedding rings will be purchased.

Forty-three percent of grooms will buy the rings at a national jewelry store chain such as Zales or Kay Jewelers, 36 percent will buy at a local independent jewelry store and 7 percent each will buy at an Internet-only retailer, a big-box store such as Wal-Mart or Target, or an established retailer's Web site.

Brides, however, 14 percent of which will be involved in the selection and/or purchase of the engagement and wedding rings, including how much will be spent, according to the survey, favor a local independent jewelry store or national jewelry store chain (29 percent each), other (23 percent), a big-box store (13 percent), a membership retailer such as Costco or Sam's Club (3 percent) or an established retailer's Web site (3 percent).

The JCOC conducted this study from June 10-15, 2009. As of June 16, 362 JCOC Panel Members has completed the survey.

The JCOC, a division of MVI Marketing Ltd., is an Internet-based, niche-market research service exclusive to the gem and jewelry industries. It is composed of a sampling panel of consumers throughout North America representing all ages, genders, income levels, buying categories and geographic regions.

For more information about the JCOC, visit its Web site, JCOC.info.
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