Consumers are planning on spending more on fine jewellery and watches in the approaching holiday season than they have in previous years, according to research by the Jewellery Consumer Opinion Council (JCOC).

Carried out this September, the study shows that although people intend to travel less this year than last during the holiday period, around 21 per cent of those surveyed will choose to buy jewellery or watches, with four in five "very likely" to make a purchase – good news for the luxury goods and pgms market as a whole.

One third of the 2,864 respondents said that they planned on spending more on jewellery for their loved ones this year than last year, with 63 per cent planning to spend between $200 and $2,500.

Spouses, children and parents are the most likely recipients of jewellery this holiday, according to the report, with some people surveyed saying they would also be buying gifts for themselves.

"Parents' gifts have a tremendous growth opportunity this holiday season if retailers train their sales staff to promote the idea with customers," said Elizabeth Chatelain, president of MVI Marketing.

Findings from the survey also showed that almost one third of all respondents have already begun their Christmas shopping.




Ÿ Adfero Ltd