More Canadian women are choosing to gift themselves with a brand new piece of jewellery instead of waiting for a loved one to make the move. Not only is it a great form of retail therapy that can translate into a cherished keepsake and heirloom, but it boosts confidence and allows women to put their own self-care first.
There’s been a long withstanding idea that jewellery pieces should only be gifted to women by their male counterparts -- and most of the marketing within the jewellery industry is catered to this notion. With this in mind, for many women, the only piece of fine jewellery they may own is an engagement or wedding ring. But, for many other women, they’ve taken it into - and onto -their own hands.
"We're seeing that many consumers aren't interested in waiting for a loved one or partner to gift them that something special,” says Nicholas Rosset, co-owner of Savoy's Jewellers in Sault Ste. Marie. “We’ve seen an increase of excited ladies treating themselves or a friend to a special gift.”
Over the past two years, there has been a shift to purchasing fine jewellery online by women who have more disposable income to spend on themselves than they would have previously spent on their commute, dining out, or even on trips abroad.
“Self-purchasing can be for a variety of reasons such as to mark an important milestone. We’ve seen many simply buy a diamond entirely for their own pleasure with no real reason in mind. If men are considered to buy jewellery for their partner as a proclamation of love, why can’t a single one adorn herself for the same reason?”
A De Beers’ Insights report suggested that self-purchasing by women has increased almost 50% over the past decade with women choosing to prefer diamond-only, design-driven and responsibly sourced pieces.
”Women are very conscious when buying jewellery. They know exactly what they are looking for and this is clearly a trend that we're recognizing at Savoy's,” says Rosset, “We have this in mind as we source new jewellery from designers who cater to this market.”
Some of the most popular self-purchases that employees at Savoy’s have noticed from women include quality watches, diamond bracelets and diamond rings.
Another popular trend is women melting down outdated, inherited jewellery or items gifted from a previous relationship. “We can custom make something one of a kind just for her,” says Rosset.
A huge contributor to the increase in women purchasing their own jewelry “just because” instead of leaving clues around the house for their partner to find is the quick-rising economic wealth of Canadian women. Women are amassing a staggering amount of wealth in Canada and across the world, rising to 30% of all global wealth.
“Although there’s a delay in marketing within the industry, we support our staff at Savoy’s to treat any person who walks in as a potential customer. There’s no outdated bias that a diamond ring needs to be tied to romance,” says Rosset, “We’re not approaching women with the idea that they’ve walked in to browse or add a bracelet or ring to their ‘wishlist'. We believe absolutely anyone should have that feeling of pride and satisfaction that comes with treating yourself to something nice.”
Ready to treat yourself? Visit Savoy's Jewelers online, at the 290 Queen St E location or in the Station Mall at 293 Bay St in Sault Ste. Marie.