(PRESS RELEASE) AUSTIN, TX — The entire U.S. fine jewelry and watch industry held its collective breath through the first major gift-giving holiday after the COVID-19 lockdown commenced. MVI Marketing’s consumer research conducted the day after Mother’s Day shows that jewelry and watch consumers bought jewelry and watches for Mother’s Day gifts. They also bought Gift Cards. These were the top two gifts bought by husbands, sons and daughters.
Of the 83% of husbands who bought their wife/partner a Mother’s Day gift, 57% bought jewelry and 13% bought a watch. Daughters bought a gift 80% of the time, with 31% buying jewelry and 5% buying a watch for their mom. Of the 83% of sons who bought a gift, 47% bought jewelry and 11% selected a watch.
Most shopping was conducted on-line with jewelry chain retailers; the most purchased jewelry gift was necklaces/pendant, which far exceeded all other jewelry categories. Yellow gold edged out white gold with diamonds as the stone of choice with the average price of $450 retail.
Internet only retailers followed closely by chain jewelry retailers was the preference for fashion watches, which dominated the category also with the average of $450 retail.
The research also showed that Moms are a harder sell for their own gift of jewelry or a watch. When Mothers who did not receive jewelry or a watch gift were asked if they would have liked to receive them instead, they answered “No, I have enough”, or “I’ve received it before”.
The gift-givers who did not give jewelry or a watch felt the same way answering that they had given it before, or she has enough.
This MVI Mother’s Day gift research study was completed on May 11, 2020 by 405 male and female U.S. fine jewelry consumers with household incomes between $50,000 and $150,000 with a medium age of 37.
The complete report can be downloaded here.
