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Interesting Statistics You Should Know About Platinum | |
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 PSYCHOGRAPHIC FACTS  The World Gold Council notes a shift in consumer trends from gold to platinum. The council attributes this to the rise of the white metal phenomenon, which was driven by fashion, and the dominance of platinum as the aspiration choice (IBIS World Industry Performance Study March 16, 2007). According to the Conde Nast Bridal Group Study (2006), 43% of consumers acquire platinum and an additional 43% get other white metals, totaling 86% of consumers acquiring a white metal for their engagement ring. The Conde Nast Bridal Group study (2006) also notes that 81% of pre-engaged women desire platinum for their engagement and wedding jewelry. 36% of brides-to-be are disappointed when they receive their engagement ring and it is not platinum according to The Knot Magazine's Engagement Survey (February, 2005). According to Jane Magazine's 2006 Jewelry and Watch Study, 38.9% of 20-somethings own platinum jewelry and the study also notes 71.3% of 20-somethings will pay more for jewelry crafted from the finest materials and highest quality. A recent study conducted by GQ Magazine (2006) reports men between the ages of 25-39 are 27% more likely to pay a premium for luxury goods. FINANCIAL FACTS Last year, Conde Nast Bridal Group (2006) reported spending on engagement and wedding rings combined has increased over 60%. According to The Cost of Doing Business Survey 2006, from Jewelers of America, Platinum jewelry's gross margin at 50% surpasses the national average and ranks above a variety of other jewelry categories including loose diamonds, diamond jewelry, timepieces and watchbands, as well as estate/antique jewelry. 2006 Jewelry sales grew a strong 7% with the luxury end of the market continuing to perform most strongly. This growth trend is expected to continue into 2007 with luxury retailers continuing to outperform, according to a recent article in JCK Magazine (January, 2007).HERE'S WHAT SOME OF THE TOP U.S. RETAILERS ARE SAYING ABOUT PLATINUM As of January 2007 U.S. retailers reported a 20% increase of sales since joining the Preferred Platinum Partner Program (4P). A proven approach to increasing revenue has grabbed the attention of retailers nationwide. "Turning a single sale into multiple units, such as selling platinum wedding bands at the same time as the engagement ring, is an important part of our profit strategy," says Shannon Haas of Wedding Day Diamonds in Minnesota. "We merchandise wedding bands with engagement rings in our cases to help the sales associate introduce the 3-ring conversation with the customer. The results have been great!" Donoho's Jewelers (Houston, TX) reported a 22% increase in overall platinum jewelry sales for 2006. The high-end retailer touts customer education as a key component for their success. "2006 has been a phenomenal year for Donoho's. We are devoted to educating our customers on the difference between metals. Helping them 'feel' the difference has been a major selling point for platinum, says Barry Donoho, President and CEO of Donoho's Jewelers. "We've always sold platinum and we are committed to platinum, even though it may be more expensive than other metals there is much more value in platinum and consumers should have platinum for their engagement rings and wedding bands," says Esther Fortunoff Executive VP of Fortunoff's. "It has been so valuable for Robbins Bros. to be included in PGI's Preferred Platinum Partner Program (4P) in 2007. PGI is truly a strategic business partner in helping educate our sales staff and driving customers into the stores through advertising and other creative marketing vehicles. We recently participated in National Platinum Day (April 21, 2007), which increased store traffic and provided our sales associates even more opportunities to discuss platinum with our customers." says Steve Robbins Chairman and CEO of Robbins Bros. (stores throughout Southern California, Texas and Illinois). TRENDS IN HOLLYWOOD The most popular celebrities are choosing platinum's pure, white, luster to symbolize their committed relationships. The following lovely ladies of Hollywood are all currently sporting platinum engagement rings. . Katherine Heigl . Rebecca Romijn . Eva Longoria . Nicollette Sheridan . Ellen Pompeo For years movie stars have chosen platinum wedding bands when looking for their ultimate symbol of commitment. Platinum is the perfect choice for a lifetime of every day wear and over the years it remains what it was - a symbol of all things eternal.. Nicole Kidman & Keith Urban . Jennifer Garner & Ben Affleck . Katie Holmes & Tom Cruise . Demi Moore & Ashton Kutcher . Michael Douglas & Catherine Zeta-Jones . Elvis & Priscilla Presley . Richard Burton & Elizabeth Taylor |
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