According to the economic tracking data from the Jewelry Consumer Opinion Council (JCOC), consumers feel that the economic picture is flat and are not supposing it to improve in 2009.
The data that was collected, the opinions of consumers in the month of November, indicates that a enormous 85 percent of consumers think the total business conditions are worse than they were in the previous year. Nearly 14 percent of those surveyed said conditions are the same, whereas just 1 percent said the conditions are better.
Looking forward to 2009, 65 percent of consumers who are surveyed estimate business conditions to either stay nearly same or get worse, while just 21 percent feel conditions will improve (14 percent don’t know).
When jewelry-purchasing habits are considered shoppers remain somewhat contradictory about purchasing of jewelry. Nearly 47 percent of those surveyed said it’s neither a good nor a bad time to purchase jewelry, and nearly 44 percent said it would be neither a good nor a bad time to purchase jewelry in the next 12 months. Nearly 12 percent of consumers said they fell it is a good time to purchase jewelry, while 35 percent said it is a bad time.
In the forthcoming year, 21 percent think it will be a bad time to buy jewelry, while 17 percent feel it will be a good time. When making the actual purchase is considered, only 12 percent of consumers of those surveyed reported purchasing jewelry in November.
The JCOC’s monthly tracking reports are the outcome of questions on the economy, fine-jewelry and purchasing behavior answered by a minimum of 2,000 U.S. consumers of all ages, income levels, etc.
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