Expanding product offerings to cater to female self-purchasers – an emerging and potentially viable consumer segment – will bode well for bridal jewellery manufacturers, according to the Platinum Guild International (PGI).

Citing findings of its Platinum Jewellery Business Review Q4 2020 report, PGI said traditional bridal jewellers should offer products that target women who purchase jewellery for themselves in an era where individuality and self-expression are increasingly influencing buying decisions.

The need to cater to female self-purchasers becomes more pronounced with International Women’s Day on March 8, 2021 – a global celebration of the social, economic, cultural and political achievements of women, according to PGI. Its research also revealed that modern women are willing to treat themselves with fine pieces to commemorate achievements and special moments. 

“To capture this self-purchase segment, the jewellery industry needs to design, brand and market collections with modern women in mind,” noted Zhenzhen Liu, director of Global Corporate Marketing at PGI.

The study further showed strong demand for precious jewellery from self-purchasers in the past year, which is seen to continue in the next 12 months. 

For instance, 77 per cent of Chinese and Indian women surveyed in the study bought non-bridal jewellery for themselves in the past 12 months, followed by 59 per cent of American female consumers. More than 80 per cent of Indian and Chinese female respondents meanwhile plan to buy non-bridal jewellery for themselves in the next 12 months, followed by 67 per cent in the US.

“This trend is having a significant impact on the design and marketing of jewellery. While consumer segments are targeted with different programmes, PGI research reveals that female purchase remains a key target across all global markets for 2021,” continued Liu.

This steadily rising “Sheconomy” also presents opportunities for platinum in fine jewellery. A rare and precious metal, platinum is associated with authenticity, purity, rarity, timelessness and resilience, remarked PGI. 

PGI developed branded collections in each of the four key markets for platinum jewellery to meet this increasing demand, including “Platinum Born” in the US; “Pt Moment” in China; “Platinum Woman” in Japan; and “Platinum Evara” in India.