The idea that women deserve to splurge on themselves as a sign of self-empowerment and independence has been encouraged and promoted by the jewelry industry for many years.
Back in 2019, for example, the Diamond Producers Association (DPA) introduced the “For Me, From Me” ad campaign, which was inspired by the ever-growing segment of the market represented by women who buy diamonds for themselves. The DPA claimed at the time that one-third of the $43 billion diamond jewelry market was associated with female self purchases.
A new study by Jewelers Mutual Group adds more depth to the subject by revealing that the most popular occasions for self-purchasing are holidays and birthdays. The results illuminate the importance of nurturing self-celebration and prioritizing well-being and happiness during the holiday gift-giving season when self-care can be forgotten, according to the Neenah, WI-based insurer.
“Jewelry is so much more than metal and stone; it’s a symbol of independence and self-expression,” said Krystle Craycraft, senior vice president of marketing and digital at Jewelers Mutual. “As we continue our work to elevate the love of jewelry, these findings reinforce the significance of empowering individuals to treat themselves to beautiful and meaningful jewelry, regardless of the occasion.”
The Jewelers Mutual survey also revealed that female self-purchasers are significantly more likely to purchase necklaces and earrings, while males are more likely to purchase watches.
Respondents also acknowledged jewelry as an heirloom. Exactly 96% of self-purchasers either plan to or are considering passing down their fine jewelry.
Just about everybody knows the having one's fine jewelry regularly inspected is critical, especially if the items contain precious gemstones. But good intentions and good habits don't always match up. Jewelers Mutual learned that 39% of self-purchasers claimed they never have their fine jewelry inspected.
When asked about the frequency of their self purchases, a surprising 50% of respondents said they buy jewelry for themselves only once a year.
Credit: Image courtesy of Jewelers Mutual.