July 10th, 2011 Wealthy Americans Spending More In Jewelry Stores
Wealthy Americans are expected to substantially increase spending on luxury goods, especially in jewelry stores, this year, a survey shows. When asked about the amount spent in jewelry stores in the past year, a third of survey-takers said they did not buy any, while 17 percent said they spent less than $100. 9 percent of those surveyed gave their jewelry stores price range as $1,500 to $2,999.
The No. 1 reason affluent Americans gave for patronizing jewelry stores in the past two years was an anniversary, followed by self-purchase, Christmas/Hanukkah, a birthday or as a special gift while on vacation. The greatest percentage of survey-takers said that their purchases took place at local watch or jewelry stores that sell multiple brands, or branded jewelry stores such as Cartier or Tiffany & Co.