Consumer Perceptions

of Platinum 2014

With platinum sales trending up, PGI USA

commissioned Millward Brown to conduct a

study into consumer perceptions of platinum to

better understand why (looked at the core bridal

audience, with break outs among engagement ring

acquirers and platinum acquirers). The results portray

a brand in good health and fit to grow, providing

the US jewelry industry an opportunity for

profitable future growth.

Introduction

Sample and Methodology looking at the broader ‘pre-bridal’ target audience and

focusing in on owners of platinum jewelry

WHO?

Women aged 25-34, annual household income of over $55k

Main: In a serious relationship and would consider getting

engaged in the next 12 months

•  433 sample size

Boost 1: Acquirers. Acquired an engagement ring in the last 2 years

(engaged or married)

Boost 2: Platinum Acquirers. Acquired a Platinum engagement

ring in the last 2 years

WHERE? Nationally representative quotas on West, Midwest,

South, North East

METHODOLOGY Online interviewing

QUESTIONNAIRE LENGTH 20 minutes

WHEN? 22nd January – 13th February 2014

Gold Pla'num

Silver White  gold Titanium

Sterling  silver Other  gold  (e.g.  Rose  gold)

Yellow  gold Copper Nickel

Tungsten Stainless  steel

Bronze Palladium

Brass Rhodium

Pink  gold/colour  gold Pure  gold

Spontaneous Awareness: What Metals have you Heard of?

BE1. What metals have you heard of? Base: Total Sample (433)

Consumers were asked which metals they have heard of; Platinum received a good level of spontaneous awareness

Metal consideration rate: Very High for Platinum.

Second only to market leader WG, and way ahead of YG

How likely are you to consider each of these metals next time one acquires jewelry made from metal:

First choice

Seriously consider

Might consider Would not consider

MEAN SCORE (+4 to +1) 3.39   3.18   2.80  2.36   2.29   2.03   2.01   1.92   1.79  

SILVER YELLOW

GOLD PALLADIUM TUNGSTEN STAINLESS

STEEL

Significant overlap in Platinum and White Gold consideration: Of

Platinum T2B considerers 93% would consider White Gold

WHITE GOLD PLATINUM

PINK GOLD TITANIUM

BE3. How likely are you to consider each of these metals next time you acquire jewellery made from metal? Base: Heard of Platinum (430), White Gold (431), Silver (433), Yellow Gold (425), Titanium (409), Pink gold (280),

Stainless Steel (413), Palladium (194), Tungsten (242)

46% of consumers are ‘very likely’ to recommend

platinum, and when they do recommend platinum it’s

primarily for ‘qualities’ and ‘appearance’

Metal  Quali*es   64  

Good/high  quality   25  

Long  las'ng/durable   25  

Strong   16  

Won’t  tarnish/lose  colour   4  

Appearance   27  

Looks  good   17  

Beau'ful   10  

BE5b.  Why  are  you  likely  to  recommend  pla'num  to  your  friends  or  family?  Base:  Total  Sample  (433)  

Why would you recommend Platinum?

Platinum has a distinct personality defined by

elegance, confidence, allure, as well as savvy

ELEGANT  

CONFIDENT  

ALLURING  

SAVVY  

AUTHENTIC  

BELIEVES  IN  UNCHANGING  LOVE  

YOUTHFUL  

TRUE  TO  THEMSELVES  AND  OTHERS  

PLATINUM

BDBA. If …(METAL) were a person, with its own personality, which of these words would best describe it?

Base: Heard of Platinum (430) Yellow Gold (425) White Gold (431)

If Platinum were a personality, it’d be:

Index for ‘Feels different

from others or sets the

trends for the category’

Platinum is recognized as the most unique

metal

The capacity of a product to deliver volume share and justify a higher price point

is dependent upon, among other things, on how different it is to consumers

Although platinum is recognized as the most expensive

metal in the category it justifies its cost

PLATINUM

Worth more than it costs

Worth less than it costs

Worth what it costs

Platinum is Worth it:

BP6: drag each metal to the statement that best describes how much you think the metal is worth.

Base: Heard of Platinum (430), White Gold (431), Silver (433), Yellow Gold (425), Titanium (409), Pink Gold

(280), Stainless STEEL (413), Palladium (194), Tungsten (242)

Platinum delivers well against 3 of the core

category needs

Are  the  best  choice  for  wedding  jewelry  

Are  the  preferred  sebng  for  diamonds  

You  would  aspire  to  own  

PLATINUM

Increasin

g  im

portance  to

 con

sumer    

pred

isposi'on

 (PRE

MIUM)  

CORE

BP7.  Which  of  these  metals  do  you  think..?  Based  on  heard  of:  Heard  of  Pla'num  (430)  

Image  Profiles  Ranked  on  Factor  Analysis  

Platinum’s positive performance against 3 key drivers of consumer predisposition:

All metals offer something different. This sentiment

increases amongst Platinum acquirers as they strongly

state that platinum is very different from other metals.

Difference of metals to one another:

BD5.  Which  of  these  statements  best  describes  how  different  metals  are?    Base:  Total  Sample  (433),  Pla'num  Acquirers  (113),  Pla'num  Engagement  Ring  Acquirers  (75)  

Very different

Quite different

Similar to one another

Mean score (+4 to +1) 3.20 3.23

Main Sample %

Platinum Acquirers (Ever)

%

Platinum Engagement Ring Acquirers (last 2 years)

%

3.51

-

Platinum engagement ring acquirers also feel that

platinum has a more defined personality

BDBA.  If  …(METAL)  were  a  person,  with  its  own  personality,  which  of  these  words  would  best  describe  it?  Base:  Main  sample  (430)  Pt  acquirers  (113)  Pt  engagement  ring  acquirers  (75)  

ELEGANT

CONFIDENT

ALLURING

SAVVY

AUTHENTIC

BELIEVES IN UNCHANGING LOVE

YOUTHFUL

TRUE TO THEMSELVES AND OTHERS

Personality: Platinum

Main Sample %

Platinum Acquirers (Ever)

%

Platinum Engagement Ring Acquirers (last 2 years)

%

Platinum’s competitive qualities come through among the

more ‘category involved’ group of engagement ring

acquirers, and even more so among platinum acquirers

Engagement  ring  acquirers  vs.  Main  sample  

Pla*num  engagement  ring  acquirers  vs.  engagement  ring  

acquirers  

Factors  more  closely  associated  with  Pt  

Are  rare  (+8ppts)  Are  a  clear  symbol  of  love  (+4ppts)  

Are  in  budget  (+4ppts)  

ALL.  MOST  NOTABLE  STRENGTHS:  Preferred  se<ng  for  diamonds  

(+21ppts)  Are  pure  (+19ppts)  

Are  eternal  (+18  ppts)  Never  fade  or  tarnish  (+17ppts)  

LasDng  value  (+17ppts)  

No  difference  in  percepGons  

Are  the  best  choice  for  wedding  jewellery  Are  eternal  Are  stylish  Are  pure  

Are  precious  Never  fade  or  tarnish  Are  naturally  white  

Factors  less  associated  with  Pt  

Have  lasDng  value  (-­‐4ppts)  You  would  aspire  to  own  (-­‐5ppts)  Preferred  se<ng  for  diamonds  

(-­‐7ppts)  

Contact

usainfo@pgiglobal.com