Tiffany & Co. is the jewellery brand most widely purchased by ultra-wealthy women in the US, according to the latest report by The Luxury Institute.
The company’s survey of ultra-wealthy American consumers with minimum net worth of US$5 million said David Yurman and Cartier were the next most widely purchased jewellery brands followed by Judith Ripka and Mikimoto.
“These three leaders in market share are also the top three jewellers where ultra-wealthy women have a preferred salesperson,” said The Institute CEO Milton Pedraza.
“Pentamillionaire men and women both agree that the top ways salespeople build lasting relationships are by making them feel comfortable, communicating honestly, earning their trust and recognizing them on store visits.
“More than half of ultra-wealthy women who purchase from both jewellery and fashion brands say they appreciate handwritten thank you notes.
“Relationship selling is not something exclusive to markets like high-end automobiles, real estate and wealth management services.
“Even in luxury jewellery and fashion, relationships cultivated by trust and an understanding of customer preferences can help boost both the frequency and size of sales.”