A new study by MVI Marketing, “The Luxury Growth Demographic of Opportunity,” surveyed 1,001 female respondents aged 25–40 (millennials) with a household income $75,000 or higher about their brand and buying predilections when it comes to jewelry, shoes, and hotels.
Here’s what the study found for the jewelry category:
- They purchase jewelry for themselves.
- Lab-grown diamonds are very desirable. A push further away from conflict and damaging earth-mined options.
- White Gold is most popular, Silver & Platinum are next and Rose and Yellow Gold follow.
- Diamond jewelry was the highest ranked style of jewelry, followed by jewelry with colored stones, platinum with diamonds, silver with diamonds, and white gold with colored gems or diamonds.
- Trends push out from Los Angeles and New York City.