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To Me, From Me, Love Me

To Me, From Me, Love Me

This past winter, the team at Pratiksha has been involved in silent auctions at several major events in Dallas, including the Technology Ball and DAYL Ball. We had the pleasure of meeting dozens of fellow jewelry aficionados during these events, and were thrilled to see the number of women directly bidding on new items for their jewelry box. While the reasons were many, the common theme was simple: self-purchasing is empowering.

A recent article from S&P Market Intelligence confirmed that more women are buying jewelry for themselves. Noted by De Beers, they dubbed the trend "female empowerment," citing reasons such as economic independence, shifting relationship dynamics and changes in perception. Long story short, women are no longer feeling the guilt or the pressure to wait for someone else to purchase the jewelry they've been lusting over.

In the U.S. alone, women’s self purchases accounted for 33% of non-bridal diamond sales, up from 23% of sales in 2005. Even more impressive? A Euromonitor report from S&P declares that fine jewelry demand is on the rise, with sales expanding 4% over the last year for 2017. An increasing number of women are turning to high-quality jewelry over costume baubles, investing in real diamond and gemstone pieces that offer decades of long-term wear and enjoyment.

In the case of Neha Kumar, who spoke to S&P via email, she purchased a pair of sapphire earrings to match a ring from her husband. Her motive? "I mostly collect pieces because I have two girls, and I always think it's something to pass on to them as an asset/investment." 

Our company mantra has consistently preached the value of a woman making choices for herself, rewarding herself, and helping to lift a hand to other women. We feel that traditional jewelry advertising has let the industry down the past few decades, reaching out with marketing messages that can confuse a jewelry recipient about her worthiness and declaring that a lover is the only person capable of gifting fine jewelry. Don't get me wrong... our entire team swoons when we hear about a romantic proposal story (especially involving a Pratiksha engagement ring!). But nothing revs our engines like a story about women who take care of themselves (and perhaps their decendants) with the gift of fine jewelry.

 

Iwasaki, Mariko. "More women are buying jewelry for themselves." S&P Global Market Intelligence. 17 Oct. 2017: 1, 2. www.snl.com. Web. 12 Dec. 2017.

Megan Davis, Contributor
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