Survey Finds Jewelry Spending Firm Among Affluent

11/12/2015 09:00

Around a quarter (24%) of affluent consumers plan to give jewelry and watches as holiday gifts, in line with previous years, according to the annual Survey of Affluence and Wealth, conducted by YouGov in partnership with Time Inc. The survey found that jewelry purchases are largely driven by consumers in the top 1 percent of all incomes, defined as those with an income of $450,000 and more. Almost one-third (31%) plans to buy jewelry or a watch, versus 21% of the rest of the population. Meanwhile, 35% of millennials plan to buy jewelry or watches, versus 22% in other age groups.