Surprise: gaudy, expensive jewelry is coming back:
Marketwatch: As retailers across the board are still struggling to get consumers to spend beyond what they need, affluent consumers are giving a troubled sector — jewelry — a ray of hope.
Average jewelry spending by shoppers with minimum household incomes of $100,000 jumped 31%, to $4,813, in the third quarter from a year earlier, compared against declines of more than 30% each for clothing and for fashion accessories including shoes and handbags, according to Pam Danziger, president of Unity Marketing. The consultancy surveyed 1,000 luxury shoppers.
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