Young people between 24 and 35 years old, so-called “millennials,” spend more than others for jewelry. More precisely, in 2014 they bought jewelry for 28% more than the average. It is the conclusion of Edahn Golan, mega industry consultant and owner of Diamond Research & Data, a company specializing in the analysis of the jewelry industry and predict trends. But, in general, the jewelry is loved by young people: consumers under 25, for example, have increased their spending on jewelry of 100% between 2003 and 2013. This is also why the United States, in particular, jewelry sales last year increased by 1.4%. The US remains the largest market in the world for jewelry, with sales of $ 68.8 billion in 2014: the average expenditure was $ 434 per family. And if you also include the clocks, the average goes up to $ 612. Beware, though: Golan warns that consumers buy more, but spend less. Translated: they buy more jewelry, but spend less per piece. Another news: the people purchases jewels throughout the year, not just during the Christmas season. Indeed, in 2014, the sell in stores before 25 December fell by 1.2 per cent. If you know English and you are curious to know in detail the market trends seen by the guru Edahn Golan can download the entire report here. Federico Graglia
