Wealthy Men Play Major Role in Jewelry Purchases
RAPAPORT… While it is often the women of a wealthy households who first express the need for purchasing jewelry, once the need is established, 54 percent of men participate in the final buying decision according to the Luxury Institute of New York.
In the group’s latest buying habits research –for households with incomes of at least $150,000–б═ the Institute found that complementary differences exist between the roles of men and women at various stages of the luxury goods purchase. Seventy-eight percent of households reported that women initiate the need for jewelry and that men are more likely than women to actually make the jewelry purchase.
In some categories, women dominated every step of the way for fine china and glassware in that women retained an 81 percent advantage on the purchase versus men at 41 percent. “Even when one partner seems to dominate, there is usually collaboration,” however the Institute concluded.
Respondents to the jewelry survey had an average net worth of $3 million, and an average annual income of $288,000.
