The Jewelry Consumer Opinion Council (JCOC) monitors consumers recent and expected jewelry and watch purchasing behavior through its Weekly Jewelry Purchase (WJP) Index. "The index as of May 13 is down to 87 which represents a drop in consumer buying for Mother's Day," explains Liz Chatelain, president of MVI Marketing, the parent company of JCOC. A reading of 100 points represents no movement or neutral in the purchasing by consumer. Higher then 100 will show an increase in sales. "The index has not been this low since the week after Valentines Day," mentioned Chatelain, who adds, "last year at this time the index was at +126 which further demonstrates the decline in purchasing.

Luxury items are always an indicator of a wider economic issue. I'm not surprised to hear that jewelry purchases were less this past Mother's Day. In these trying economic times consumers are also turning to costume jewelry and diamond simulants, such as those from CARAT*, that give the look of luxury, but cost about 80% less.

To review the latest updates from JCOC's Weekly Jewelry Purchase Index visit the JCOC Intelligence Center.