Americans are expected to spend at least $18 Billion dollars on Valentine cards, gifts, candy and Jewelry. This figure does not include these purchases the rest of the year. Valentines Day is a big to do in the USA. These figures were obtained by the National Retail Federation.
Do you know why diamonds and Jewelry are a girl’s best friend ? Because all women just love diamonds & Jewelry. The amount varies by location and neighborhoods. Now the average American spends $160 per year for jewelry. People who live in the eastern seaboard and in large cities like Chicago, San Francisco, Los Angeles and Denver spend the most on jewelry but the Americans living in the
residential ZIP codes 07078 (Short Hills, NJ), 60043 (Kenilworth, Ill.) and 94027 (Atherton, Calif.) are among the highest spenders for jewelry. Residents in these ZIP codes spend, on average, at least $573 per year for jewelry.
Shoppers who might buy diamonds also live along the Eastern Seaboard and in some rural areas of California, Nevada, Arizona and Texas.
Diamonds are a girl’s best friend in ZIP codes with the highest likelihood of diamond buyers — 19142 (Philadelphia), 48235 (Detroit) and 60628 (Chicago). Residents in these ZIP codes are at least 1.5 times more likely than the average American to buy diamonds.
Where are jewelry and diamond buyers apt to live? Not surprisingly, residents that might spend the most for jewelry live in the Connoisseurs, Suburban Spendor and Top Rung neighborhoods,Tapestry’s most affluent segments. These residents spend, on average, $300 or more per year for jewelry.
The question is, where do the buyers of diamonds and jewelry live? They live in the Connoisseurs, Suburban Spendor and Top Rung neighborhoods,Tapestry’s most affluent segments. These residents spend, on average, $300 or more per year for jewelry.
These residents are well educated and have good jobs. These residents are married couples with and without children, highly educated and in their peak earning years.
Who are these shoppers of fine jewelry? They are the Connoisseurs, these are well educated residents, some what older and love to shop, They live in growing suburban neighborhoods which are becoming very affluent communities, the epitome of upward mobility. Many of these residents are 2 income married couples with or without children.
They are high income earners at their peak earning years. Which are well educated and have very good jobs. Top Rung is Tapestry’s wealthiest consumer segment and represents less than one percent of all U.S. households.
People who live in modest income neighborhoods spend the least amount of jewelry. They spend $75 or less on jewelry per year. These modest neighborhoods are referred to as City Commons neighborhoods. These neighborhoods are found in large Southern and Midwestern metropolitan areas. These areas harbor the low income people which are young, single, single parents , unemployed or pat time workers.
Here is an interesting fact. Jewelry buyers live in very different neighborhoods than diamond buyers. The diamond buyers are residents of Family Foundations and Urban Rows neighborhoods, These particular diamond buyers are1.5 tome more likely to purchase diamonds than the average American to purchase diamonds. This is a surprising result and the reason is unknown.
Households in Family Foundations neighborhoods are a mix of married couples, single parents, grandparents, and young and adult children. These small, urban neighborhoods are located primarily in large Southern and Midwestern metropolitan areas. Most residents live in owner‐occupied, single‐family housing built before 1970. Urban Rows neighborhoods include different family types who live in row houses built before 1950 primarily in large Northeastern port cities such as Baltimore and Philadelphia, with smaller concentrations in the South. Many households are multi-generational.