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Magazine > Industry News > News Content

Study: 17% see '09 as good time to buy jewelry

12/26/2008 5:44:12 AM

New York--Not surprisingly, consumers think the economic picture is bleak and aren't expecting it to improve in the coming year, the latest economic tracking data from the Jewelry Consumer Opinion Council (JCOC) shows.

The data, which gathered the opinions of consumers during the month of November, shows that a whopping 85 percent of consumers think overall business conditions are worse now than they were a year ago. About 14 percent of those surveyed said conditions are the same, while only 1 percent said they are better.

Looking ahead to 2009, 65 percent of consumers surveyed expect business conditions to either stay about the same or get worse, while only 21 percent think conditions will improve (14 percent don't know).

When it comes to jewelry-buying habits, shoppers remain somewhat ambivalent about buying jewelry.

About 47 percent of those surveyed said it's neither a good nor a bad time to buy jewelry, and about 44 percent said it would be neither a good nor a bad time to buy jewelry over the next 12 months.

About 12 percent of consumers said they think now is a good time to buy jewelry, while 35 percent said it's a bad time.

In the next year, 21 percent believe it will be a bad time to buy jewelry, while 17 percent think it will be a good time.

When it comes to making the actual purchase, only about 12 percent of consumers surveyed reported buying jewelry in November.

The JCOC's monthly tracking reports are the result of questions on the economy, fine-jewelry and buying behavior over the past 30 days answered by a minimum of 2,000 U.S. consumers of all ages, income levels, etc.

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