If you choose the Tiffany piece, you are in the minority. Only 10 percent desired the luxury brand. A whopping 78 percent picked the Wal-Mart jewellery, while the others remained undecided.
Surprised? Yes, so were we. This survey conducted by Zogby Interactive involved 41,175 adults, and concluded that, "People [in the U.S.] are moving toward a simpler, less materialistic lifestyle."
What does that mean for Tiffany? Well, it could mean continued expansion of their 'entry point' high volume sterling silver lines like the Keys collection. (as discussed in The MO Down on 21 March). Or, they could continue happily wooing the 10 percent who can’t live without Tiffany’s timeless masterpieces. Let’s face it, Tiffany has never really been aimed at the masses however they are a brand that has some excellent elasticity and this is not always easy to achieve.
To read the full Reuters report, click here.