<Diamond engagement rings ? US sales.
Number sold by price
Under $1,000 ? 35% - 595,000
$1,000 to $5,000 ? 60% - 1.068 million
Over 10,000 ? 5% - 89,000
Value sold by price.
Under 1,000 ? $297.5 million
$1,000 to $5,000 ? $3.2 billion
over $5,000 to under $50,000 - $746 million
Over $50,000 - $256 million
References:
81% of brides receive a diamond engagement ring. 1.78 million US
brides receive a diamond engagement ring.
Source: De Beers
http://www.findarticles.com/p/articles/mi_hb3195/is_200201/ai_n7872655
In 2004, diamond engagement rings reached their highest average price
at US$2,600, purchased for 82% of US brides. The total retail value
for the diamond engagement ring category in 2004 was US$4.5 billion,
an increase of 5% over 2003.
The US consumer market for jewellery is estimated at US$44 billion,
according to First Research. Specialty retailers hold about 50% of the
market, while the industry is highly fragmented. The top 10 jewellery
chains hold less than 25% of the market with Wal-Mart the largest US
jewellery retailer. Overall jewellery sales in 2003 was estimated at
US$2.6 billion.
The Diamond Information Center at ad agency JWT reports that retail
sales of diamond jewelry in the US increased 8.2% last year to US$31.5
billion, up from US$29.1 billion in 2003.
The US is the leading global market, with over 50% of worldwide
diamond sales, the Center confirmed.
Source: The Diamond Information Center.
http://64.233.183.104/search?q=cache:KER1OUcMssAJ:www.tdctrade.com/imn/05081603/jewellery074.htm%3Fwt_source%3Dtdc%26wt_type%3Dtextlink%26wt_placement%3DmainWN1%26wt_jobid%3D0409tdc+%22diamond+engagement+rings%22+million+%22average+price%22&hl=nl&gl=be&ct=clnk&cd=2
According to the Jewelry Information Center, over 60% spend between
$1,000 and $5,000 on an engagement ring. Five percent of grooms spent
more than $10,000. The average amount spent is $3,700.
Source: Diamond engagement rings are increasingly colourful. By Renee
Garrison. Media General News Service.
http://www.insidenova.com/servlet/Satellite?pagename=ISN/HTMLPage/ISN_HTMLPage&c=HTMLPage&cid=1031780473491
-----------------------------------------------------------
Jewelry Retail Industry Profile.
The US jewelry retail industry generates annual revenues of about $44
billion from 28,000 specialty, department, and discount stores.
Specialty retailers hold about 50 percent of the market. Wal-Mart is
the biggest jewelry retailer in the country, followed by Zale, the
biggest specialty jeweler with over 2,000 stores and kiosks. The
industry is highly fragmented: the top 10 jewelry chains hold less
than 25 percent of the market. Other large specialty retailers are
Tiffany and Sterling, the US branch of British jeweler Signet Group.
Bridal merchandise (engagement, bridal and anniversary rings) accounts
for about 35 percent of the market.
This industry profile costs $129
Source: First Research.
http://www.firstresearch.com/Industry-Research/Jewelry-Retail.html
-----------------------------------------
High-end jewelers.
High-end jewelers and share of the $50,000-plus jewelry industry.
Tiffany ? 19%
Cartier (Richmont) ? 11%
Bulgari ? 3.5%
Engagement jewelry represent 20% of Tiffany?s sales.
Tiffany?s engagement rings range in price from $970 to $1 million.
US retail accounts for 50% of revenue.
2003 sales - $601.2 million ? engagement rings an estimated 120.24
million. Diamond engagement rings an estimated $97.39 million. US
diamond engagement ring sales an estimated $48.69 million.
Source: Tiffany & Company. A case study by Stephanie Blackburn.
http://www.smu.edu/ecenter/discourse/Blackburn.htm
Cartier (Compagnie Financiere Richemont SA)
2005 sales - $4,782.7 million
http://www.hoovers.com/richemont/--ID__92326--/free-co-factsheet.xhtml
Tiffany
2006 sales - $2,395 million.
Source: Hoover?s.
http://www.hoovers.com/tiffany/--ID__11481--/free-co-factsheet.xhtml
Bulgari is the world?s third largest jewelry company behind Cartier and Tiffany.
2004 sales $1,128.9 million.
Source: Hoover?s.
http://www.hoovers.com/bulgari/--ID__53887--/free-co-factsheet.xhtml
------------------------------------------
Internet jeweler Blue Nile
2005 sales $203.2 million.
http://www.hoovers.com/blue-nile/--ID__100858--/free-co-factsheet.xhtml
Online internet jeweler Blue Nile reports that more than 400 of its
customers spent over $10,000 on an engagement ring. The average price
paid by their customers is $5,200.
Source: Online jeweler Blue Nile is busily engaged these days. By
Christine Frey. Seattle Post.
http://seattlepi.nwsource.com/business/105777_retail25.shtml
In 2004, Blue Nile reached 2.7 percent market share of the estimated
$4.7 billion U.S. engagement ring market.
http://internet.seekingalpha.com/article/1019
------------------------------------------
Major jewellery retailers 2005
General retailers sale in billions
Wal-Mart 2.7
QVC 1.4
JC Penny 1.2
Sears 1.1
Finlay 1.0
Costco 0.4
Jewelry Television 0.4
Neiman Marcus
% of market 15.9
Speciality Retailers
Signet US 2.3
Zale Corp US 2.2
Tiffany 1.2
Helzberg 0.5
Fred Meyer 0.5
Whitehall 0.3
Friedman?s 0.3
Ross-Simons 0.3
Ben Bridge 0.2
% of market 13.7
Source: Signet.
http://www.signetgroupplc.com/pages/163/US+Jewellery+Marketplace.stm
------------------------------------------
Zale and Sterling dominate the middle market.
Source: Rolling Stones. Retailer consolidation makes its way toward
the jewelry sector. By Rodger Brown.
http://www.icsc.org/srch/sct/sct0206/dept_retail_jewelers.php
Zale Corporation
2005 sales $2,383.1 million
Source: Hoover?s
http://www.hoovers.com/zale/--ID__16301--/free-co-factsheet.xhtml
Bridal merchandise represents 43 percent of sales.
Zales has an average transaction total of $367.
Zales Fine Jewelry Outlet stores have an average transaction total of $349.
Bailey Banks & Biddle has an average transaction of $1,290. Gordons
has an average transaction of $411.
http://sec.edgar-online.com/2004/10/12/0000950134-04-014896/section2.asp
Sterling Jewelers Inc.
2006 sales $1,282.7 million
http://www.hoovers.com/sterling-jewelers/--ID__112855--/free-co-factsheet.xhtml
-----------------------------------------
The bridal market is predicted to grow 22% to 2019.
Source: Fairchild Bridal Group.
http://www.sellthebride.com/documents/americanweddingsurvey.pdf
This report looks at the marketing of Canadian diamonds in the U.S.
It contains demographic information about diamond jewelry purchasers
and information about why and when diamond jewelry is purchased.
Source: Northern Insights Marketing .
http://www.iti.gov.nt.ca/diamond/pdf/marketing_diamonds.pdf>
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<Hope this helps.> |
Clarification of Answer by
belindalevez-ga
on
11 Aug 2006 03:43 PDT
<You are correct, the figures do not add up.
Partial information is given by this report.
$1,000 to $5,000 ? 60%
Over 10,000 ? 5%
This leaves two categories 0 to $1,000 and $5,000 to $10,000 which
together account for 35%.
The Jewelry information centre gives.
According to the Jewelry Information Center, over 60% spend between
$1,000 and $5,000 on an engagement ring. Five percent of grooms spent
more than $10,000. The average amount spent is $3,700.
Source: Diamond engagement rings are increasingly colourful. By Renee
Garrison. Media General News Service.
http://www.insidenova.com/servlet/Satellite?pagename=ISN/HTMLPage/ISN_HTMLPage&c=HTMLPage&cid=1031780473491
I have contacted the Jewelry Information Centre by email to try to
find the percentages for the under $1,000 category and the $5,000 to
$10,000 category. As soon as I get a reply I will post the figures
here as a clarification.
The 50k reference comes from this report.
High-end jewelers and share of the $50,000-plus jewelry industry.
Tiffany ? 19%
Cartier (Richmont) ? 11%
Bulgari ? 3.5%
Engagement jewelry represent 20% of Tiffany?s sales.
Tiffany?s engagement rings range in price from $970 to $1 million.
US retail accounts for 50% of revenue.
2003 sales - $601.2 million ? engagement rings an estimated 120.24
million. Diamond engagement rings an estimated $97.39 million. US
diamond engagement ring sales an estimated $48.69 million.
Source: Tiffany & Company. A case study by Stephanie Blackburn.
http://www.smu.edu/ecenter/discourse/Blackburn.htm>
<Hope this helps.>
|
Clarification of Answer by
belindalevez-ga
on
13 Aug 2006 08:27 PDT
<These are the step by step calculations.
Over 50,000 category.
Tiffany has 19% of the over 50,000 category. Its sales of diamond
engagement rings were 97.39 million. U.S sales account for 50% of
Tiffany?s sales.
97.39/2 is 48.695 This represents 19% of US sales.
48.695/19 x 100 = 256 This represents 100% of US sales.
$1,000 to $5,000
1.78 million brides received a diamond ring.
60% of grooms paid between $1,000 and $5,000
60% of 1.78 million is 1.068 million. Taking a mean price of $3,000.
1.068 x 3,000 = 3.2 billion.
For the under $1,000 category I used 595,000 x a mean price of 500
595 x 500 = 297.5 million
The final figure of over 5,000 to under $50,000 was calculated by
deducting the other totals from 4.5 billion.
4.5 billion ? 3.2 billion ? 297.5 ? 256 = $746 million>
I haven?t had a reply as yet from the Jewelery Information Centre but
will post their reply as soon as it is received.>
<Hope this helps.>
|
