Platinum Bridal Market Helps Fuel Jewelry Demand
Industry forecasts 3 percent increase in jewelry sales for 2008 with the number of weddings rising to all time highs
Despite tough economic times, sluggish holiday season sales and soaring prices of metals and gemstones, industry leaders project an increase in Diamond jewelry sales for 2008. With inflation rates expected to jump as high as 7-8 percent, the International Diamond Exchange forecast for jewelry sales in the U.S. predicts a 3 percent increase in the upcoming year–from $64.0 billion (estimated) in 2007 to $65.9 billion in 2008.
In a recent article by Ken Gassman "State of the Jewelry Industry–2008 Jewelry Demand," for Idexonline.com, Gassman highlights the bridal industry’s substantial influence on the forecast. Millennials, or the children of Baby Boomers, are influencing both the jewelry and bridal industries in significant ways. In fact, in less than ten years, the number of weddings is projected to increase by approximately 30 percent among Millennials.
"Not only are Millennials more likely to get married–rather than just live together like children of the 1960s–they are also more likely to spend heavily on bridal jewelry because they have more wealth than their predecessors."
This trend is especially significant for Platinum since the type and quality of metal is one of consumers’ primary considerations when purchasing bridal jewelry.
A Conde Nast Bridal Group study shows that spending on bridal jewelry has increased over 60 percent in recent years. The report also found that 81 percent of consumers desire Platinum for their engagement and wedding jewelry.
A similar survey recently in Allure magazine underscored that Platinum has the highest commitment of any of the metals for both engagement rings and wedding bands.
As retailers are forced to increase the price of their jewelry to reflect the rise, Platinum is at a noteworthy advantage. Educated consumers expect and are willing to pay more for Platinum because of its distinction and superior quality.
But Platinum’s popularity is not merely based on fashion and reputation. There are several reasons Platinum is the metal of choice for the majority of consumers:
— Platinum is 30 times more rare than gold;
— Platinum jewelry sold in the U.S. is traditionally 90-95% pure Platinum compared to 18K gold, which is only 75% pure; and 14K which is only 58.5% pure;
— Platinum is more durable and will not oxidize or fade; so prongs, patterns and engravings do not wear down like other metals;
— Platinum’s density and molecular structure make it the most secure setting for a precious gems
— Platinum jewelry has a luxurious weighty feel, weighing over a third more than the same piece in gold.
— Platinum jewelry requires a higher level of craftsmanship than other precious metals, meaning that only the finest jewelers offer it;
The bridal industry is often called "recession-proof" because not even a weak economy can stop people from getting married. Many retailers are taking advantage of this notion and engaging their consumers in heavier marketing tactics such as selling wedding bands at the same time as the engagement rings.
Looking beyond the bridal jewelry industry, Gassman explains, that in order for retailers to remain unaffected by a recession, one constant is that consumers want jewelry that is, above all, ingenious.
This demand for unique and high quality designs has inspired designers such as Scott Kay, Phyllis Bergman and Ritani to not only widen their assortment, but also offer Platinum products in lighter weight, lower price-pointed pieces. This strategy has opened the Platinum door and made high quality Platinum available to broader range of price-conscious consumers.
About Platinum Guild International USA
Platinum Guild International, the marketing arm for the worldwide Platinum jewelry industry, is dedicated to promoting Platinum and its pure, rare and eternal qualities to the consumer and the jewelry trade. PGI has offices in each of the world’s major jewelry markets, providing information, assistance and education on all aspects of Platinum jewelry
Fashion Jewelry | Comment (0)Award-Winning Writer Emily Liebert Launches New Website
Award-Winning Writer Emily Liebert Launches New Website
New Rochelle, NY, March 06, 2008 –(PR.com)– Emily Liebert, award-winning, internationally published freelance author, editor, and writer has just launched a brand new website. Liebert, who writes for regional, national, and international magazines, newspapers, and websites focuses on luxury lifestyle stories, specifically travel and home design.
Most recently, Liebert served as editor for Kerry Kennedy’s upcoming book Being Catholic Now: Prominent Americans Talk About Change in the Church and the Quest for Meaning, which is set to publish with Random House on September 9, 2008. She will also serve as writer and editor for Good Morning America fashion correspondents Jennifer Goodkind and Jayne Chase’s upcoming book on what it means to lead a fashionable life. Her debut novel One White Picket Fence, Please is currently being shopped to publishing houses.
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Arizona Business Center Launches The ABC Exit Coach(TM)
Arizona Business Center Launches The ABC Exit Coach(TM)
The Arizona Business Center is offering its ABC Exit Coach(TM) to owners of privately held businesses who want to save hundreds of thousands of dollars in brokerage commissions by managing their own sale.
Phoenix, AZ, March 06, 2008 –(PR.com)– After two years of development and testing with Arizona business owners, the Arizona Business Center is offering its ABC Exit Coach(TM) to owners of privately held businesses who want to manage their own sale.
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TexasWheel.com is Hosting Several March Madness & TW Shootout Texas NL Holdem Poker Tournaments
TexasWheel.com is Hosting Several March Madness & TW Shootout Texas NL Holdem Poker Tournaments
TexasWheel.com is hosting several March Madness & TW Shootout Texas NL Holdem poker tournaments this month. Several online poker rooms like Carbon Poker, Poker Nordica and RedStar Poker are participating.
Clarksville, TN, March 06, 2008 –(PR.com)– “TW Shootouts” and “March Madness” Promotions.
TexasWheel.com is promoting and hosting several Texas NL Holdem poker tournaments for the March Madness at Carbon Poker and Poker Nordica promotions.
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Attorney Brad Bailyn Plans to Offer Web-Based Seminar to Help Women Overseas
Attorney Brad Bailyn Plans to Offer Web-Based Seminar to Help Women Overseas
New York, NY, March 06, 2008 –(PR.com)– Accomplished attorney and successful internet entrepreneur Brad Bailyn has decided to offer a web seminar geared towards lawyers who represent women seeking divorces and separation from their spouses in North African and the Middle Eastern countries.
In the past few years, many countries in this tumultuous area have revised their laws to grant woman considerably more legal rights than they have had in the past, particularly in the realm of marriage; however, these revisions are frequently ignored or interpretation is skewed by the courts to rule in favor of the husband. Bailyn, a skilled divorce lawyer in the United States, hopes that by offering his legal insights, he can help these marginalized women to receive their fair share of the assets accumulated in the course of the marriage.
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5.23 cushion cut pink diamond with white diamonds
© AMGADVintage Diamond CutsOld Mine Cut: This diamond cut is square, but with gently rounded corners and brilliant-style facets. The crown is typically high, the table is small, and the culet is large enough to be visible through the top of the stone.
Fashion Jewelry | Comment (0)Comedian to Address HIV/AIDS Awareness on ‘Today in Montana’
Comedian to Address HIV/AIDS Awareness on ‘Today in Montana’
Jade Esteban Estrada returns to Billings to discuss his activism through theatre March 7.
Billings, MT, March 06, 2008 –(PR.com)– Singer and comedian Jade Esteban Estrada will discuss HIV/AIDS awareness on the local KULR-8 television program “Today in Montana” at 6:00 a.m. Friday, March 7, 2008. The award-winning entertainer will also perform segments of his one-man musical “A Lullaby for Ryan: The History of HIV/AIDS in America” which will make its Montana premiere at 8:00 p.m. Friday, March 7, 2008 at the Venture Theatre in Billings.
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Attorney Eugene Krukas Calls Upon NY Political Leaders to Protect Consumers from Potentially Lethal Vehicle Defects by Adding a “Safety Lemon” Provision to …
Attorney Eugene Krukas Calls Upon NY Political Leaders to Protect Consumers from Potentially Lethal Vehicle Defects by Adding a “Safety Lemon” Provision to the Lemon Law
The Law Office Of Eugene Krukas, a New York Lemon Law firm, urges governor Eliot Spitzer, Assembly Speaker Sheldon Silver, and Senate Majority Leader Joseph Bruno to enact legislation updating and improving the New York Lemon Law by adding a ’safety lemon’ provision in order to protect consumers from potentially lethal automobile defects. Continue reading »
