Affluent Americans Increase Spending On Custom Jewelry
Wealthy Americans are expected to substantially increase spending on luxury goods, including custom jewelry, this year for the first time since 2007. 15 percent of those surveyed said they plan to increase spending on custom jewelry, up from 12 percent who said the same last year.
American Express Publishing and Harrison Group conducted the "2011 Survey of Affluence and Wealth in America" asking affluent consumers about 18 luxury categories, including custom jewelry, home décor, accessories and clothing.
When asked about the amount spent on custom jewelry in the past year, 33 percent of survey-takers said they did not buy any. 9 percent of those surveyed gave their custom jewelry price range as $1,500 to $2,999. The number one reason affluent people gave for purchasing their most expensive piece of custom jewelry in the past two years was an anniversary, followed by self-purchase.