63% of affluent African-Americans express a preference for jewelry brands that either embody or promote their cultural heritage, according to a recent study conducted by market research firm The MVEye in collaboration with Stephanie Coleman, the publisher of Tre Magazine, and quoted by IDEX Online.
The survey also found that affluent African-Americans are “likely to overlook price for a quality shopping experience,” and that their decisions to buy luxury jewelry pieces are “deeply rooted in cultural resonance and a demand for inclusivity, underscoring the need for industry adaptation.”
The report, called “Crafting Unity, Adorning Diversity,” surveyed Black/African-Americans in the US with a household income over $100,000.
Over 75% of those surveyed indicated that the feeling of being welcomed was the most crucial factor influencing their fine jewelry purchases, surpassing considerations such as price, selection, and the expertise of in-store sales staff. 56% stressed the significance of sustainably produced jewelry, especially concerning conflict diamonds. Notably, only 64$ were aware of lab-grown diamonds, compared to 80% of the general population.
