Women are buying Jewellery for them!!

 WOMEN BUYING JEWELRY INSTEAD OF WAITING FOR MEN TO BUY FOR THEM

Jewelry is a sort of thing which is purchased as a gift for others, making marriage, anniversary, special day of your special ones special. Sounds puzzled right but the most what’s more interesting is that now women buying jewelry instead of waiting for men to buy for them. 

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Traditionally it was observed that men are attracted to expensive jewelry and purchase decision were taken by them only but now patterns are changing. Men used to surprise his wife, girlfriend by giving rings, necklaces, and earrings mostly around holidays like Valentine’s Day. So, both brands and Marketplaces focused on male consumers.

Some experts related to change in buying behavior is indirect to women empowerment. They say Women feel empowered after buying what they want for themselves or their family members. Statistical data of North End Jewelry—Only for the Elite suggest that women are buying more high-end jewelry for themselves, these are the category of women who are economically independent and transformation in relationship dynamics, change in perception, sense of investment are encouraging women to buy & invest more in jewelry. 

Jewelry Industry Statistics of Previous years

De Beers Group which is an international corporation that specializes in diamond mining, diamonds retails, diamonds trading, and sells more than one-third of the world's rough diamonds by value, calls these women buying Jewelry patterns “female empowerment”. According to Euromonitor International, De Beers Group has grown at an average annual rate of 6.8% over the last 10 years. Statistical data of this group indicate the pattern. So this pattern suggests that most of the women buying jewelry instead of waiting for men to buy for them. 

Data from De Beers also suggest that Between 2014 and 2016, Women bought 23% of total diamond sales in the U.S., China, and Japan. Whereas, diamond purchases made by partners accounted for a total of 25% of sales. ,

Jewelry Industry Statistics 2019 suggests that the global luxury jewelry market amounted to about 21 billion Euros. The value of the jewelry market is expected to increase from 279 billion U.S. Dollars in 2018 to about 480.5 billion U.S. Dollars by the year 2025.

Between 2014 and 2016, Women bought 23% of total diamond sales in the U.S., China, and Japan. In the year 2018, the Women’s segment within the costume jewelry industry held 59% of the share of 2018. One can analyze the importance of women in the jewelry industry from these very facts.

Nowadays stronger female independence results in modern relationships. These factors are changing the motivation for jewelry purchases, with more women buying Jewelry or receiving diamonds for spontaneous moments. The phenomenon of self Purchased by a group of mature women with considerable income is also on a pick. A surprising fact is the average number of jewelry pieces bought per woman between the ages of 35 and 55 over the past three years has increased by 0.5 i.e. To 2.5 from two. 

The buying power of women is helping the apparel industry. In the U.S., Women’s earrings as a proportion of men's rise to 81% in the year 2015 from 62% in the previous 20th Century. 

Why women are buying jewelry for themselves?

Independent women

Most women love to buy designer jewelry as a gift for themselves because independent young women are no more relied on her man to buy her happiness. They buy themselves to celebrate personal milestones. These brilliant and flawless women, want to involve in the designing process and make decisions on her own.

Change in fashion awareness 

Modern women are confident enough to show the world what she wants for herself, be it clothes, jewelry, partners, and everything related to her life. Sophisticated and modern jewelry attract women so that they can look stylish, show that she has better taste and individuality. The selection process of jewelry design, cut, the shape allows her to show her individuality. A gift is something which every woman accepts with grace but many factors which she wants in that gift is missing sometimes. So, this factor also pushes a woman to buy things for herself.

Retailer always says that a lot of women, once they figure out who they are, don’t want to leave it to their husbands to pick out their jewelry. A lot of women in their 40s and 50s go to shops with gifts they’ve received over the years of there marriage, saying ‘He bought me all of this beautiful jewelry, these are close to my heart but I do not like it. This means that is sentimental to her so she doesn't want to get rid of it. But they often tell the jewelers to remake it into their style.

Fashion with secured future

Once in Hong Kong auction house, more than 40 % of jewelry buyers were women and this is a global trend. Now women are buying Jewelry for investment purposes. It does not matter that it is just a piece of jewelry to add on in her collection, an asset, or anything. Conventional wisdom is that men buy jewelry for investment and women buy them because they like it, but women now realize that “jewelry is a tangible asset to include in her portfolio and in this way they can secure her future to some extent. 

Conclusion 

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Women buy jewelry for themselves because they want to, and they can. A study of Montel in 2015 done on women more than 45 years of age suggest that they buy jewelry because they want to give a treat to themselves. Earlier also women use to buy jewelry for herself but now women buying Jewelry patterns is sifting a positive way. Women empowerment, sense of investment, increase in there income, independence, modern relationships all are the factors that push her to buy for herself. Now they are not embarrassed in flaunting their purchases to others, at that time when women are compelled to lie because they were embarrassed that her partner was not buying things for her. For her, self-Purchased jewelry is a constant reminder of her personal and professional milestones and a meaningful symbol of strength, hope, and courage.

Women are at a point where women are extremely vocal about who they are, what they want, how they want to be represented, how they talk about & think about themselves. They want to scream out and say, 'This is what I'm feeling!' and jewelry helps them to tell her story to the world.”