6 March 2019
In celebration of International Women’s Day on March 8, modern female consumers are recognising their successes through jewellery, with platinum as their metal of choice, said the Platinum Guild International (PGI).
“The ongoing changes in global society and regional cultures is resulting in new tastes and self-expression among women. We are seeing that platinum – with its high-quality, enduring nature and naturally white authenticity – is the precious metal of choice for the modern female consumer across diverse regions,” revealed PGI CEO Huw Daniel.
In the US, 49 percent of employed women, including 42 percent of working women with children, say they are their family’s breadwinner, according to a joint NBC News-Wall Street Journal poll. While wedding jewellery purchasing remains high for platinum, women are increasingly having their own say with “involvement of brides” increasing from 65 percent in 2011 to 70 percent in 2017.
Over one-third of consumers also bought jewellery for themselves in the past 12 months, according to a consumer survey commissioned by PGI in 2018.
The same is true in other major markets such China and Japan where women are celebrating their independence in the various aspects of their lives, which also translates to economic freedom.
Based on the latest Platinum Usage & Attitude survey by PGI, 60 percent of Japanese women in their 40s bought jewellery for themselves, and that figure rose to over 70 percent for women in their 50s. A record 75.7 percent of women between the ages of 25 and 39 meanwhile held jobs in 2017, up 5.9 percentage points from 2012, according to a survey by the Internal Affairs Ministry.
Reflecting the increased confidence among women, the profile of a modern woman is not a loud proclamation of strength, but rather one of “effortless” power, noted PGI. “Japanese women interested in jewellery aspire to be spiritually fulfilled and in a spiritual state of mind. With an image perception of elegant, mature, cool and independent, among all the jewellery materials, platinum resonates with the ideal profile for today’s Japanese woman,” Hisako Hankinson, president of PGI Japan, said.
In India, platinum has become a symbol of love and blessing for daughters. Socio-cultural changes in India meanwhile have been gaining momentum, resulting in more educated women, who in turn are more financially independent and driven.
“Daughters of today are altering and widening the societal narrative. They are questioning traditional norms, pushing gender boundaries, and making choices to build a more progressive, equal opportunity society. They believe in a love that embraces, cherishes and encourages you to be yourself,” said Vaishali Banerjee, managing director of PGI India.
With these in mind, PGI has introduced various initiatives to cater to every market’s specific needs, including the Platinum Born brand for professional, educated women who purchase jewellery for themselves at accessible price points; as well as Platinum Moment Collection, which symbolises self love and the love of one's parents; and Platinum Evara, which celebrates authenticity.