They also noted their top jewelry brands.
A new study from MVI Research reveals the favorite jewelry brands of "millennial self-purchasing females," along with their attitudes on lab-grown diamonds and other topics.
Respondents to this survey rated Tiffany, Pandora, Swarovski, Alex and Ani, Gucci, Cartier, Tory Burch and David Yurman as the top jewelry brands they own or are most likely purchase.
Meanwhile, over 13 percent of respondents said they are very likely to purchase lab-grown diamonds. Over 43 percent said maybe they would purchase lab-grown diamonds, but they don't know much about them. And 21 percent said probably they would purchase lab grown diamonds as they are hearing more about them.
About 12 percent of respondents said they're "not at all likely" to buy lab-grown diamonds, and nearly 11 percent said they don't know.
The study focused not only on jewelry but also on shoes and hotels.
Respondents identified these as the top three motivators for self-purchasing:
- So they can get exactly what they want.
- To celebrate a milestone.
- Just because.
Nearly 91 percent indicated they research a brand before buying.
"You can see all the signs of a demographic segment that will be spending for themselves, and for gifts, in increasing numbers and escalating price points," said MVI President Liz Chatelain. "Luxury brands like Tiffany, Marriott and Jimmy Choo are already seeing strong penetration based on their recent video content marketing efforts and others seeking an answer to millennial consuming puzzle should become more aggressive with their content marketing to young Self Purchasing Females."
The study was conducted online July 15-20 and completed by 1,001 respondents in these demographic segments:
- 25-40 years of age.
- $75,000 household income and higher.
- Females only.
- U.S. only.
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