Recent research carried out by the International Diamond Exchange, IDEX, reveals that the 1950s model family of Dad as the sole breadwinner and Mom at home in the kitchen is no longer the typical model in the US.
IDEX revealed: ‘The good news: more women than ever before work outside of the home and now have the discretionary income to buy jewellery for themselves.’
The studies also showed that as well as jewellery expenditure no longer being dependent on men and one sole income, that age is not an issue either.
Data from a Consumer Expenditure Survey, sourced by the US Dept of Commerce, showed household spending on jewellery did not vary much by age.
The 35-44 age group proved to spend the most on jewellery annually at $620, followed closely by the 25-34 year-olds at $608 dollars and $605 from the 55-64 age group.
Expenditure did predicitably vary in relation to the number of wage earners in the family. Households with an income of more than $70K spent on average $1,003 dollars a year on jewellery with just $146 annually from wage earners of $15K.
‘Clearly, whenever there are two wage earners, the level of discretionary income in the household rises sharply,’ concluded IDEX. ‘Since jewellery is purchased with consumers’ discretionary income, it is important for jewellers to focus on all ages of shoppers who enter their store.’
