People are buying jewelry, even if it’s from a stranger, because it’s more comfortable and easy to store and wear, according to a new study.
The study from Harvard University and the University of Rochester’s Business School showed that people spend on average $1,500 for jewelry every year.
That number is much higher than the average cost of $400 a year for an average consumer in 2016, the Harvard researchers said.
But a $1.50-a-piece gift card can save people as much as $400, the researchers found.
They found that people are spending less on gifts, like handbags, as they try to save money and are more likely to have disposable income to spend on the jewelry they want, said the study’s lead author, Jochen Kohns.
“The average consumer would buy a $200 gift card to make sure they had enough money for their needs, but we found that the average gift card costs are lower,” said Kohn, a professor of business at the University at Buffalo.
In the study, researchers asked 1,851 people to name their favorite jewelry item, including a necklace, ring, watch, or bracelet.
They also asked them to rate how much they wanted to spend for each item.
They looked at people’s overall spending, as well as how much money they expected to save for a year by not spending on jewelry.
The average amount of money saved by not buying jewelry in the survey was $6,927, which included an additional $1 million for the study.
About a quarter of people expected to spend $6 million for a one-year gift card, Kohn said.
That compares to just 10 percent who said they expected the gift card price to drop $1 to $6.
That is a much higher savings than people would have in 2016 if they had gone out and purchased $400 worth of jewelry.
“People were actually spending less than they were expecting to, and they were actually saving money,” Kohn added.
In a study published earlier this year in the Journal of Consumer Research, researchers found that even after accounting for the $6-per-year savings, the average person spent $6 more on a wedding ring than a wedding gift card.
The Harvard researchers say they have found that saving money with jewelry is a lot easier for the average consumer than saving money in traditional stores.
“Most people are still in a rush to buy the most expensive jewelry they can find,” said Elizabeth Smith, a co-author of the study and assistant professor of marketing and communications at the Business School.
“There’s a lot of pressure to buy something new.”
But people are also buying less jewelry as they buy more and more of the same items, Kerns said.
That can be particularly challenging when they want to buy items that will fit into a specific category, like wedding rings.
Smith said she found the study interesting because she doesn’t buy wedding jewelry.
But she said that could be because people aren’t sure if they should be buying jewelry from a company that sells rings or from a local jewelry shop.
The American Academy of Pediatrics says most children should not wear jewelry or other jewelry items unless they are at least 6 feet tall.