The jewelry industry is very competitive and hundreds of millions of dollars are spent on advertising every year. Jewelry marketers need to create connections between their brand and consumers that prioritize jewelry as a top choice for gift giving or as an essential element ahead of a big event. The $38 billion celebrations industry provides the perfect opportunity for jewelry brands to connect with this audience. Brands that position themselves in front of party planners and their guests at the right time, in the right way will see the rewards.
When it comes to celebrations, there are two key audiences: party hosts and party guests. For jewelry marketers, the big win is with party guests. They buy thoughtful, meaningful gifts, and dress up for special occasions, from holiday parties and graduations to birthdays and engagement parties. With a better understanding of the celebrations industry and how to reach this very lucrative audience, jewelry marketers will have a leg up on the competition.
Why Party Guests?
Party guests provide a substantial opportunity for brands. First, guests outnumber hosts. Every party has only one or two hosts, but many guests. Depending on the event type, every host will send 30–40 invitations (certain event types like holiday celebrations and bridal events see higher guests lists).
Second, most of the major occasions are gift-giving occasions. Christmas, birthdays, anniversaries, graduations, and showers are all event types for which guests need to purchase a gift. It’s important to remember that even though there’s been a lot of focus on women, jewelry gifts like watches and cufflinks are extremely popular gifts among men.
Lastly, regardless of the event type, it is fairly common for women to want to purchase a new outfit for a party or special event. Sometimes they’ll purchase an entire outfit – clothing and accessories – but sometimes it’s simply a new bracelet or necklace that will spruce up an existing item in their closet.