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Tiffany Scores with Wealthier Immigrants
Dec 11, 2018 9:04 AM
By Rapaport News
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RAPAPORT... Tiffany & Co., Swarovski and Pandora are the preferred jewelry brands among more affluent immigrants in the US, according to a survey by MVI Marketing.
Researchers asked 702 Asian-American, Hispanic and Latino-American consumers with an annual household income of $80,000 or more to name the three brands whose jewelry they own. Tiffany was top, with 42% of respondents saying they had some of its products, followed by Swarovski at 33%, and Pandora at 32%.
Some 44% picked Tiffany when MVI asked which three jewelry labels they would most want to receive as a gift. Cartier came in second place, with 30% of the vote, while Gucci’s products gained 28%.
Tiffany also fell within the top five choices of any luxury fashion brand, favored by 14%, coming behind Gucci, Louis Vuitton, Chanel and Cartier.
Jewelry was the luxury item respondents were third-most likely to purchase next, after handbags and clothing, according to the MVI report, which focuses on the spending power of immigrants with above-average incomes.
“This demographic segment is sophisticated, discerning and rapidly growing into a significant segment of the American luxury consumer population,” the report said.
Those consumers, which MVI terms “forward-facing immigrants,” are most likely to use their mobile phones for travel and spa purchases, but favor a face-to-face experience for fashion and jewelry, the report added.
For further analysis of luxury demand among tourists, students and immigrants, see here.
Image: Tiffany jewelry. (Shutterstock)
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Tags:
Cartier, Chanel, gucci, Louis Vuitton, MVI Marketing, Pandora, Rapaport News, Swarovski, Tiffany, Tiffany & CO.
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