The Jewelry Consumer Opinion Council (JCOC) announced it is to release a report entitled "The Hispanic Jewelry Market in the USA: The Hidden Giant 2011" on September 15 to coincide with the start of Hispanic Heritage Month in the United States.
The JCOC developed the first-ever measurement of the U.S. Hispanic jewelry consumer market in 2005 which revealed the jewelry buying habits and expectations of the U.S. Hispanic consumer and pegged the then market size at $1.5 billion per annum.
The report to be released in September follows the start last month of a tracking study to validate the findings of the 2005 research.
"If demography is indeed destiny, then every retailer in the USA, both web and brick and mortar, needs to be improving their product offerings, marketing and communications and overall shopping experience for the Hispanic consumer," noted MVI's chief executive Marty Hurwitz.
"The jewelry industry in particular has a tremendous growth market waiting with Hispanic jewelry consumers. They are being significantly underserved," he added.