Jewelry is man's newest best friend finds Unity Marketing's Jewelry and Watch Report, 2007.

Sales of men's fine jewelry virtually doubled from 2004 to 2006, reaching $6 billion, according to the report.

“Jewelry designed for men used to be a stepchild in the jewelry business, compared with women's jewelry,” Unity Marketing President Pam Danziger said in a press release. “But in 2006, the men's jewelry market reached a 10 percent share of the market, so jewelry marketers and retailers can't afford to ignore it any longer.”

And the trend only seems to be getting hotter this year.

Unity Marketing's quarterly surveys of luxury consumer purchases this year revealed the purchase incidence of men's jewelry rose each quarter to a high of 12 percent at the close of the third quarter, compared with the historic 5 percent purchase incidence reached in 2006.


Sales of men's fine jewelry, such as this collection by Luis Morais, have doubled from 2004 to 2006 to $6 billion.

“Our findings suggest that men are putting their experience as knowledgeable consumers of women's jewelry to work in making fine-jewelry purchases for themselves,” Danziger said. “Now that many men are abandoning business casual for more formal business attire, they are interested in accenting their wardrobes not only with a fine watch, but with gold rings and cuff links as well.”

This trend coincides with the larger trend in the jewelry market toward specialty retailers providing unique designs and individualized service, finds the study. After losing market share for several years to discounters and mass merchants, specialty jewelers regained a full 50 percent share of the jewelry market in 2006.

Source: Nationaljeweler.com
www.nationaljeweler.com