JCOC study revels the internet popularity

An August Omnibus study conducted by the Jewelry Consumer Opinion Council (JCOC), between its panel members, revealed an extensive use and preference for the internet as a medium of communication, lifestyle and news sourcing. Ninety-five percent of panel members were in favour of the media. The study was conducted on August 28, and September 5, 2008.

“With 95 percent of people online daily this shows us that the Internet is not a fad that will be diminishing any time soon,” says Liz Chatelain, president of MVI Marketing Ltd. and it’s JCOC division. Of the 95 percent, exactly 70 percent use the Internet several times a day or more and 25 percent at least once a day. In August 2008, 2 percent more panel members utilised the Internet several times a day compared to just earlier this year, confirming it getting close to saturation point in society.

The study findings, when analysed for the eligible engagement group between 18-39 years, 28 percent of this group shopped online, and marked their preference of BlueNile, eBay and Amazon. All three websites have engagement products. The internet shopping is also preferred by 38 percent of the 60+ age group which said they would visit the website of a well known retail store and make purchase online rather than walk to the store.

For shopping fine jewellery online, Google is the most commonly used search engine by 27 percent of panelists. While 11 percent of panelists said they use multiple search engines for the same search. In all, over one-third of panel members have purchased fine jewellery online, popularly through internet auction sites. In two 2008 JCOC studies, 4 percent more panelists purchased fine jewellery online compared to 2006. The JCOC concludes that online shopping for fine jewellery has caught onto the new comers to the media, but it has not yet caught on a larger scale. “We believe that consumers are looking to buy, and would buy, more jewelry product online if there were more well-designed, comprehensive e-commerce sites available to them,” said Chatelain.

More than half of the respondents have spent between $101 and $500 on a single style of fine jewellery online and 84 percent are satisfied or extremely satisfied with the quality of their online purchases. Of the total number of respondents who purchased fine jewellery online, over two-thirds prefer shopping at a well known fine jewellery retailer’s store location, 31 percent prefer shopping from that retailer’s web site. Also, 76 percent of panelists believed that shopping at a well-known fine jewellery retailer, online has better prices and 80 percent believed shopping online was more convenient.

The analyses of the study also indicated that consumers give high weightage to the quality of the product’s photograph and product description for a jewellery website to be attractive. Also, the consumers indicated that lower prices, more detail product imaging and free shipping could be added incentives for them to consider increasing purchasing fine jewellery online.