Although they intend to travel less this holiday, US shoppers plan to spend more on fine jewelry and watches than in previous years, according to a new consumer study by the Jewelry Consumer Opinion Council.

Of the 2,864 people surveyed, about 21 percent plan to buy fine jewelry or watches for the holidays, with 80 percent of those describing themselves as “very likely” to purchase those items, survey results released Tuesday said. Among those choosing jewelry or watches, nearly 35 percent said they would spend more money this year with 63 percent planning to spend between $200 and $2,500 on jewelry or watches.

Spouse or significant others, children and parents appear as the top recipients of fine jewelry and watch gifts this season, with many respondents also saying they would buy baubles for themselves.

About half of respondents report that they will spend the same amount on total holiday spending as in previous years, but about 40 percent said they would spend less. One-third of those surveyed say they have already begun shopping for holiday gifts.

Consumers also reported plans for large purchases before the holidays, with about a quarter of respondents planning to make home improvements before the holidays. About 13 percent plan to make furniture or appliance purchases and 10 percent plan to purchase a new vehicle.

For more details on the survey, visit www.jcoc.info


Source : nationalejeweler.com

www.nationaljeweler.com