Colored Gemstones Capture More Consumer and Trade Attention

Latest research shows younger consumers extremely interested in buying precious colored gemstone jewelry, even engagement rings.

9 February 2021- Austin, Texas: Over 93% of U.S. jewelry consumers Love or Like ALL three precious colored gemstones – emerald, ruby and sapphires.

This is according to the Fall 2020 Comprehensive Consumer and Trade Colored Gemstone Market Research Study report, from MVI Marketing LLC (THE MVEye), the leader in market research for the global gem, jewelry and watch industries.

“Precious color is once again a clear winner for the consumer seeking fresh looks in fine jewelry styles and for the trade trying to capture the imagination of self-purchasing females and next gen jewelry buyers,” said Marty Hurwitz, CEO of MVI Marketing LLC (THE MVEye), who adds, “bridal jewelry with precious colored gemstones saw the largest category increase from both consumers and jewelry retailers.”

Rupak Sen, VP of Marketing & Sales of FURA, an international colored gemstone mining company which commissioned this research, noted: “Our entire team at FURA along with our customers are excited about the positive results this research study has found regarding the opportunity for growth in the precious gemstone category.”

The Fall 2020 Comprehensive Consumer and Trade Colored Gemstone Market Research Study was completed by over 1,100 U.S. consumers who had purchased fine jewelry within the past two years. In addition, over 100 jewelry trade interviews and surveys were conducted. The retailer surveyed confirmed consumer sentiment: colored gemstone jewelry gives them more exciting selections to choose from.

Carolyn Brigman from McCaskill & Company in Destin, Florida said, “We love the colored stone category and so do our customers. Our clients, once they discover the allure of colored stones’ incredible beauty, come back over and over to expand their color collection. We know once they’ve purchased one, we’ll be seeing them for years to come.”

Designer Erica Courtney specializes in colored gemstone jewelry and shared that her retailer clients are requesting more rings with a mix of colors. “I have always worked with colored gemstones and engagement rings with lots of color used to be a one off, but not anymore,” said Courtney.

Key findings revealed in the U.S. trade and consumer Gemstone Market Research study report include:

• 40% of younger consumers (23-40) chose sapphire as their favorite gemstone closely followed by ruby and emerald with half of this group already having purchased sapphire jewelry.

• 75% of retailers and 92% of manufacturers reported that the precious colored gemstone jewelry category is a higher margin category than diamond jewelry.

• Colored gemstone bridal combinations have grown considerably (over the past 10 years) in terms of consumer demand and what retailers are offering. Consumer interest in and acceptance of colored gemstone engagement rings has risen to over 30%. Current data shows that retailers have increased their colored gemstone wedding jewelry to 15% of their posted website product.

• Consumers showed an extremely high interest in fancy sapphires of all colors including green, yellow, black, and ‘Parti,’ a multicolored sapphire.

• Natural precious colored gemstone jewelry comprises on average 47% of a jeweler’s total colored gemstone business for the retailers participating in the study, compared to 13% for man-made precious colored gemstone jewelry.

• The retail price sweet spot for 52% of retailers in the study is $800 to $2,000, while 42% said over $2,000.

Courtesy : Retail Jeweller India News Service