In this video edition of The MV Eye we asked Millennial Age Consumers, actively shopping for engagement rings, who they are, what's their budgets, how are they shopping, what are their preferences, what are their thoughts about lab-grown diamonds and love.
Watch this edition of the The MV Eye and see what they said!
MVI Marketing LLC conducted this research study to assist luxury brands to better understand and communicate with young luxury consumers.
The Millennial Consumer Research Study of Self Purchasing Females is our fourth study designed to capture a benchmark understanding of the products and brands achieving penetration with this emerging consumer segment.
The results of this research study and comparisons with previous MVI studies with the same target audience, have led us to identify the Millennial Self Purchasing Female segment as the Luxury Growth Demographic of Opportunity. Reasons for this include:
- 30 plus year spending cycle just beginning
- Brand attachments in their formative stage
- Content engagement, style, adornment will propel brand loyalty
The results also reinforce our strong sense of optimism for Millennial Self Purchasing Females as an entry level segment for luxury brands seeking a break thru with younger consumers.
Latest MVI Research Shows Growing Interest in Lab Grown Diamonds Among Millennial Age Consumers
Nearly 70% Would Consider Lab Grown Diamond for Engagement Ring
Austin, Texas- 3 May 2018: Millennial age consumers continue to show growing interest in lab grown diamonds, according to a consumer research study conducted by MVI Marketing LLC (MVI) in April 2018. Nearly 70% of respondents in this study said they would consider a lab grown diamond for an engagement ring center stone, a 13% increase from a previous research study on lab grown diamonds conducted by MVI in 2017.
Liz Chatelain, President of MVI stated: “In this study, we asked younger male and female consumers in the USA about their awareness of and interest in lab grown diamonds.” She added: “Millennials are clearly showing a strong level of interest and the progression since our 2017 has been significant.”
Key highlights from the study include...
Latest MVI Research Tests Eyewear Brands Among Wealthy Millennials
Ray-Ban still the king but other brands also strong with young luxury consumers
Austin, Texas- 7 March 2018: Ray-Ban continues to be a strong brand in both sunglasses and prescription eyewear among the USA’s growing wealthy Millennial consumer segment according to a consumer research study conducted by MVI Marketing LLC (MVI) in February 2018.
Oakley, Gucci, Coach, Michael Kors, Kate Spade and Nike are also favorites with respondents in this study.
“In this study we asked wealthy, younger, male and female consumers in the USA, to pick their brand favorites in both the sunglass and prescription eyewear categories,” stated Liz Chatelain, President of MVI.
JCK magazine teamed up with MVI to capture Millennial consumer preferences for 2017's Holiday Jewelry Videos from leading brands. See which video was a surprisingly clear winner in this study scoring the highest overall ranking in addition to first with females and second with males. This video also had the highest score across 2 out of 3 age segments in this study (18-22, 23-29 year olds) and the highest in answers to the question would this video make me more likely to buy from this company.
MVI Marketing Research Shows Classic Luxury Brands Among Wealthy Millennials’ Favorites...
Rolex, Jimmy Choo and Tiffany strongest with younger luxury consumers.
Some classic luxury brands are starting to capture favoritism among the USA’s growing wealthy Millennial consumer segment according to a consumer research study conducted by MVI Marketing LLC (MVI) in November 2017.
Rolex, Jimmy Choo and Tiffany are showing the strongest leadership positions in their respective product categories (Watches, Shoes, Jewelry).
“In this study we asked wealthy, younger, male and female consumers in the USA, to pick their luxury brand favorites in key product categories,” stated Liz Chatelain, President of MVI.
Product categories researched in this study included: Fashion (apparel), Shoes, Handbags, Jewelry, Watches, Hotels, Automobiles and Eyewear.
Liz Chatelain of MVI Marketing LLC quoted in S&P research.
Increasingly, women are buying more high-end jewelry for themselves. Economic independence, transformations in relationship dynamics and changes in perception are encouraging more and more women to buy their own items of jewelry.
It's no secret that jewelry retailers throughout North America are struggling to get young, female consumers into their stores. It's also no secret that jewelry retailers throughout North America are struggling with stagnant or declining margins and profits.
MVI Marketing LLC (MVI) conducted this research online with 1056 USA female consumers who have purchased fine jewelry within the past 12 months. The study deployment dates were 1-5 May 2017.
This study was deployed online by MVI Marketing from 21 October 2016 to 22 October 2016 to male and female jewelry shopper respondents in the United States. 1355 respondents completed the study (59% female and 41% male). Respondents were between the ages of 21 and 45 with a household income $50,000 or more.
Demography is Destiny...Every 24 hours for the next 19 years, an average of 10,000 boomers will turn 65. (LA Times)
Hispanic Americans are the only ethnic group to see a decline in their poverty rate in the 2013 US Census. (Pew Research)
25% of women in households with at least $100k in discretionary income said they bought jewelry for themselves and not for a special event. (Amex and Harrison Group)
Today’s Nearly weds...average HHI $89k plus, annual consumer spend $1.3 trillion, 76% employed full time, 77% are college grads. (The Knot)
A couple of years ago, the head of Nabisco called me because of a problem his channel partners had plopped down on his doorstep. Seems they had videos of women starting down the cookie aisles of their stores—and then backing out. It was his job to figure out why. Why were the women hitting reverse?
As gold surges again and Millennials seek alternatives, contemporary metals for jewelry are heating up. Today Millennials, who are aggressively avoiding traditional retail, are now seeking sustainable alternatives- to everything. So as the contemporary metal mayhem begins I thought it wise to put together a primer that helps define the different options.
It's about to get a lot harder to snag a discounted handbag at your local department store.
Coach on Tuesday became the latest accessories label to say that it's dialing back its presence in these highly promotional shops. The company this fiscal year plans to exit about 25 percent of the big-box locations where it sells its product, or roughly 250 stores.
The move comes as Coach is working to rebuild its pricing power with shoppers by incorporating more luxurious offerings in its assortment, including its recently launched 1941 collection. That brand has helped it grab shelf space in higher-end department stores including Nordstrom and Saks.
A few key recent items in the news combined with a seismic shift in consumer demographics and spending, have made us wonder about the long-term strategy for iconic jewelry retailer Tiffany & Co.
Here’s what we’ve seen that has driven our speculation that Tiffany may actually be moving away from jewelry:
Los Angeles, CA- May 31, 2016: The term lab-created diamonds is already recognized by over 40% of millennial jewelry consumers based on a consumer research study conducted by MVI Marketing (MVI).
“The results were surprisingly high considering that lab-created diamonds have just started to receive advertising dollars and media attention within the past few years,” stated Liz Chatelain, President of MVI, she added, “the term blood diamonds is at about the same level of recognition as after the movie Blood Diamonds was released in 2006- 63% recognition.”
After reading a brief explanation about lab-created diamonds – the study results showed that 13% responded: I hope the diamonds I have now are not lab-created and I don’t know it.
As for future purchases 56% of the respondents would like to know more, 44% would like to see them in person and 34% would purchase then if the price was lower then mined diamond.
CALIFORNIA - MVI Marketing LLC has established a strategic partnership with Cint AB to leverage Cint’s technology for obtaining audience’s insights, demographic and unique data points for its Millennial Discretionary Spend Research Report. MVI’s subscription based syndicated research report, which is accessible via a web based portal, provides MVI’s active clients in the luxury goods sector with a deep dive into current market trends.
Taking full advantage of Cint’s latest SaaS offering Cint Connect, a real-time insights tool that offers a self-serve ecosystem for audience and ad effectiveness measurement, MVI is now able to capture 100+ demographic and pre-profiled data points among each of the 19 million audience members hosted in Cint’s platform as they view an online ad tagged for tracking via Cint’s technology. MVI now has the ability to track and share data on age, gender, geographic location, household income, education level, in addition to several other data points per impression on digital ads targeted for tracking, providing MVI with unique data points unavailable from any other resource or technology.
The American middle class is losing ground in metropolitan areas across the country, affecting communities from Boston to Seattle and from Dallas to Milwaukee. From 2000 to 2014 the share of adults living in middle-income households fell in 203 of the 229 U.S. metropolitan areas examined in a new Pew Research Center analysis of government data.
With relatively fewer Americans in the middle-income tier, the economic tiers above and below have grown in significance over time. The share of adults in upper-income households increased in 172 of the 229 metropolitan areas, even as the share of adults in lower-income households rose in 160 metropolitan areas from 2000 to 2014.
Verigold Jewelry announced today that its parent company Renaissance Jewellery Ltd. has been presented the prestigious award from the Gems & Jewellery Export Promotion Council (GJEPC) of India for the country's largest exports in fine diamond and gemstone jewelry category for the year April 2014 – March 2015. Renaissance has been judged based on their excellent export performance, value additions to their company and their investment in R&D.
Renaissance Jewellery has received this distinguished award for the 5th time.
Platinum Guild International ("PGI") published the findings of its third annual Retail Barometer. The Barometer, conducted by independent platinum market experts and industry analysts, reveals the consumer retail sales data of platinum jewellery in 2015 and projections for 2016. It is the only research in the industry that measures sell-out, i.e. platinum ounces sold from retailers to consumers.
The Retail Barometer gives a unique view of platinum demand from retail sales. Platinum jewellery is the second largest consumer of platinum in the world after the autocatalyst market.
The research survey covered over 400 jewellery retail companies with approximately 23,000 retail outlets in the four main international markets of China, India, Japan and the USA. The research was conducted between January and February 2016.
Sandy, Utah – March 23, 2016: Jewelry Innovations LLC, distributer of fine jewelry and developer of high-tech jewelry alloys, today announced the issuance of a new patent for Serinium®, The Precious Contemporary Metal™, by the U.S. Patent and Trademark Office. The issuance of this patent to Jewelry Innovations’ sister company, Mythrial Metals LLC, gives legal recognition to Serinium’s® unique qualities and composition.
Serinium® is the finest and safest of the contemporary jewelry metals, combining the best qualities of other contemporary metals with none of the drawbacks. Ultra-hard and bright silver-white in color, Serinium® is hypoallergenic, will never oxidize or tarnish, and unlike other contemporary jewelry metals, Serinium® jewelry can be safely and easily removed in an emergency with commonly available tools. Serinium® is also the only contemporary jewelry metal with strong appeal to both women and men, particularly Millennials.
This patent will lead to the first contemporary metal bridal ring sets which will be shipped this holiday.
In 2016, the retail jewelry industry in the United States continued to adapt to falling diamond prices, high numbers of jewelry store closures, and an industry-wide liquidity crunch that, combined with rock-bottom prices offered by online-only retailers and foreign suppliers, is putting downward pressure on gem and jewelry prices at every step of supply chain.
At the retail level, more jewelry businesses in the United States ceased their operations in 2015 than in 2014, while major retailers continued to shutter stores and shrink their distribution networks. Online retail sales across all categories continued to grow at a healthy rate, while sales of jewelry at retail stores in the U.S. grew at the slowest pace since 2011.
Several of the top U.S. retail jewelry brands reported increased sales and revenues in 2015, however most of these positive reports were calculated using a constant exchange rate; currency fluctuations actually resulted in net revenue losses for many jewelry brands.
The World Platinum Investment Council (WPIC) today announces the publication of its sixth Platinum Quarterly - the first independent, freely-available, quarterly analysis of the global platinum market. The report incorporates analysis of platinum supply and demand during the fourth quarter of 2015 and for the full year 2015. The report also provides a forecast of supply and demand for the full year 2016.
Point blank, it is one one of the most popular social networks in the world and a way for luxury brands to convey their message in an interactive format which – like Instagram – limits the amount of content you can post in one goto keep it snappy and stimulating.
That said, not all brands are taking advantage of this channel in the most worthwhile way, but – rather than focus on the negative – Luxury Society has joined forces with full service digital agency Digital Luxury Group to identify and rank those luxury watch and jewellery brands doing it right.
Top of the list in terms of fanfare for jewellery brands specifically, is all American star Tiffany & Co., with an impressive following of 1,430,648 – so efficient is the brand at picking up followers that the gap between it and its next two competitors, Bulgari and Cartier, is immense.
It is projected that Hispanics will account for 30 percent of the total USA population by 2050. With 44 million Hispanics in the USA today, having the ability to reach the Hispanic consumer is invaluable to any jewelry retailer, manufacturer or consumer brand.
In 2005 MVI Marketing Ltd. (MVI) developed the first-ever measurement of the USA Hispanic Jewelry Market.
In June of 2011 MVI began the development of a study to validate the findings of the 2005 research, quantify the progression of the market sizing and detail comparisons of the data from 2005 and 2011.
In 2015 MVI continues to update and validate this report so as to provide ongoing insights into this dynamic market segment.
Hispanics are the only major racial or ethnic group to see a statistically significant decline in its poverty rate, according to 2013 Census Bureau figures...read the report from Pew Research.
Some of the hippest online retailers around are pioneering an old concept: offline retailing. After years of squeezing traditional retailers, e-commerce companies that were once digital-only are seeing the value of hanging up shingles in malls and bustling shopping streets.
MVI's Jewelry Consumer Opinion Council research helped one client get ROI in a big way!
MVI's President Liz Chatelain in today's Wall Street Journal discussing jewelry product development and marketing to self purchasing women.
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