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Ethnic Jewelry: Can It Grab Market Share?
A recent study conducted by the Jewelry Consumer Opinion Council (JCOC) reveals significant consumer awareness of ethnic-inspired jewelry.
Sixty-five percent of the study's 2,930 respondents said they would be open to purchasing quality ethnic jewelry if they knew more about the styles available and their histories.
More than one-third of respondents said fashion is a critical purchasing driver of ethnic-inspired jewelry. Nearly a third said they like to mark a trip with jewelry from the place visited, while 14 percent said they display their own ethnic pride by wearing jewelry representative of their culture.
Sixty-nine percent of respondents said they are concerned that the gems they buy are mined in an ethical way, and 63 percent said they are willing to pay more for a piece of quality ethnic jewelry depending on its origin. A majority of the respondents said they have spent up to $200 on a piece of ethnic jewelry, with nearly a quarter spending $200 to $5,000. Local craftsmen are the most popular source for consumers buying ethnic jewelry, followed by jewelry chain stores, local independent jewelers and art fairs.
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