New Jewelry and Watch Consumer Insights Study

Through the first half of 2006, the watch and jewelry market has been on a tear.  The government.s Bureau of Economic Analysis predicts consumer sales of jewelry and watches to top out at $62.6 billion by year.s end, that would be a 6.3 percent increase over previous year. 

Jewelry stores are also reporting strong sales through the first half of 2006, with jewelry retailers. sales growing 8.3 percent over 2005 mid-year results to reach $14.7 billion from January to June 2006.  

The key to marketing success for companies that manufacture and retail jewelry and watches is to truly understand the consumer, their wants and needs.  Unity Marketing will undertake a major new research study of recent jewelry and watch consumers to understand what jewelry and watch products they buy, how much they pay for the different types of products, where they shop and the factors that influence them to buy.

Research Sponsors Needed for a Major New Consumer Research Study on Jewelry and Watch Buying

This research initiative will focus specifically on the needs, desires, passions of jewelry and watch consumers.  Sponsors are needed to support this research effort.  Those who will benefit most by sponsoring this study include:

·        Jewelry and watch product companies,

·        Jewelry retailers, including internet and direct marketers, and

·        Advertising and brands companies. 

As a research sponsor, you will get an early read on the results of the major findings ahead of everybody else and insider information only available to sponsors.  You.ll participate in learning what drives the jewelry buyer in shopping and buying jewelry and watches.  You will discover new ways to tap into consumers. passion for jewelry and watches in order to sell more of your company.s or store.s products. You.ll get a view .over the horizon. about where the jewelry and watch market is going and find out how to get out in front of the consumer.

Consumer Insights to Be Discovered

With a focus on consumers, their buying behavior, needs, desires and preferences, this research study will include research data and statistics about:

·        Jewelry Market Size and Growth: What is the size of the jewelry and watch market?  How is the market segmented by product type (e.g. necklace, rings, casual/fashion watch, fine/formal watch, etc.)?  By material (e.g. gold, platinum, sterling silver, etc.)?  By gemstone (e.g. diamond, pearl, precious gemstones, semi-precious, man-made/faux, etc.) How rapidly are the various product, material and gemstone segments growing?

·        Demographics of the Jewelry and Watch Market: What are the demographic characteristics of jewelry and watch buyers? What are the key demographic differences found among and between buyers of the different product segments (e.g., gender, age, generation, HHI, size, composition, ethnicity/race, education, etc.)?   A special section of the study will be devoted to the luxury segment of the jewelry and watch market.

·        Buying Behavior of Jewelry and Watch Shoppers: What are the primary characteristics of the consumers. buying behavior related to jewelry and watch products? Where do jewelry and watch consumers shop for the different types of products? What factors influence where they shop?  What influences their decision making when it comes to making a purchase?  How much do they spend buying each of the specific products?  And how much do they spend in total on jewelry and watch purchases? What is the role of brand in product selection and shopping choices?  How do different demographic segments differ in their shopping and buying behavior?

·        Psychographic Profile and Segmentation of the Jewelry and Watch Markets: Psychographic profiles of jewelry and watch buyers will be developed in this study. The profiles will identify different types or personalities of consumers of jewelry and watches.  These profiles will identify different drives and motivations found among consumers in purchasing these products and services; what factors are more or less important in driving their purchasing decisions; and how jewelry and watch marketers and retailers can better understand the hearts and minds of their different types of consumers. 

Research Methodologies

Insights into the jewelry and watch segments of the market will be gathered using these research methodologies:

·        Focus groups where recent purchasers of jewelry and watches will talk about their purchases, product and price preferences and shopping experiences;

·        Quantitative survey of 1,000 jewelry and watch consumers to discover their buying behavior, spending patterns and validate hypotheses from focus groups.

Sponsorship Opportunities and Deliverables

Two levels of research sponsorships are available:  Basic and Advanced Research Sponsors.

Advanced Research Sponsors .  Advanced research sponsors will participate in both focus groups and quantitative research survey.  In addition, they can participate in two webcast presentations of the major findings following each phase of the research study.

Focus Groups

·        Participate in guiding and directing the scope of the research study, defining objectives, areas of inquiry and specifying information and insights to pursue.

·        Participate in focus groups through review of respondent screening criteria and moderator.s guide that directs the flow of focus group discussion.   This may include preparing one presentation board (about 24. by 36.) for discussion in focus groups.

·        Observe focus groups; receive video copies and transcripts. 

·        In-depth focus group analysis report highlighting major findings from discussion.

·        Webcast discussing major findings and next steps.

Quantitative Survey

·        Review draft survey questionnaire making suggestions and recommendations,  add key brands and 5-6 competitor brands, add key products and services.

·        Topline results or cross-tabs delivered immediately after survey is conducted which will include answers to all survey questions.

·        Final in-depth Jewelry and Watch Consumer Insights Report, 2007 including all major findings from focus groups, quantitative study and psychographic personality analysis.

·        Webcast discussing major findings.

Basic Research Sponsors .  Basic research sponsors will participate only in the  quantitative research portion of the study.  The deliverables basic sponsors will receive are defined above under quantitative survey. 

Both basic and advanced research sponsors will also receive a copy of Unity Marketing.s latest Jewelry Report Update 2006.  This new study will update this report.

Timing

Unity plans to conduct the research and publish the final report during first half of 2007.

 

Advanced Research Sponsorship Fee: $5,000 to $7,500

Basic Research Sponsorship Fee: $2,500 to $3,500

(Sponsorship fees may vary depending upon the total number of research sponsors)