Market research finds that 51% of female consumers buy jewelry for themselves, 14% buy for their partner/spouse, and 17% make purchases with their significant other. This means women are purchasing and influencing 81% of all jewelry sales, cites Holland. Because the customer paradigm has shifted from men to women, jewelry manufacturers and retailers must understand the female market.
Marketers have a lot of work to do, as 91% of women feel advertisers don’t connect with them, finds She-conomy research. “Most jewelry manufacturers and retailers are male-owned and operated. This is further exacerbated by the fact that advertising is also a male dominated industry,” says Holland. “There’s a big disconnect, when you have 89% of advertising creative directors male, and 81% of consumers female.” She reports that nearly three quarters of women are willing to walk away from brands that don’t listen to them.
Understanding Their Motivations
To connect effectively with female consumers, you must know what motivates them, says Holland. Among the top reasons a woman buys jewelry for herself, multiple industry studies find, are: to get what she wants, to reward herself, to commemorate a memory, and just because.
When communicating to women don’t think in terms of ages, but in life stages. “A 40-year-old woman could easily have a toddler at home or a child going to college, no children at all or still single”, describes Holland. “While they are all 40, their wants, desires, and where they are in life are very different.”