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Hispanic market ripe for retail jewelers

Paso Robles, Calif. -- U.S. Hispanic consumers are willing to spend large amounts of money on jewelry, according to a recent online poll by the Jewelry Consumer Opinion Council (JCOC). That could mean big business for retailers, considering there are 39 million Hispanic consumers in the United States, a number that continues to grow.

The study, "The Hispanic Jewelry Market in the USA: The Hidden Giant," finds that 75 percent of respondents already own fine jewelry, and more than half of them will spend more than $500 on fine jewelry purchases in the next few months.

Hispanic consumers represent the fastest growing group in the country, and their jewelry buying habits indicate that their love for fine jewelry will mean significant growth this year and in the future, according to JCOC.

The study finds that Hispanic consumers have a high interest in religious jewelry, but that they also desire diamonds and fashion jewelry.

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