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NRF Releases Projections for Valentine’s Day Jewelry Spending

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The National Retail Federation has released the results of its Valentine’s Day Consumer Spending Survey, which estimates that Americans will spend $4.4 billion on necklaces, earrings and other jewelry this year. Additionally, nearly one in five (19.9 percent) plan to treat their significant other or family member to something precious.

The survey says that of the 54.8 percent of Americans who intend to celebrate the holiday, they will spend an average of $146.84 on flowers, jewelry, candy, apparel and other things, which would mark an increase from last year’s individual average spend of $142.31. Total spending is expected to reach $19.7 billion, the highest projection ever recorded by the survey.

“As the first major consumer holiday of 2016, Valentine’s Day could provide a positive boost in spending our economy needs,” NRF President and CEO Matthew Shay said in a statement. “Low gas prices and guaranteed promotions from retailers large and small should help consumers as they look for the perfect gift for their friends and family. Looking ahead, we’re optimistic consumers are in a good place when it comes to spending on discretionary items like gifts.”

Here’s the trove of survey data that was collected by Proper Insights and Analytics on behalf of the NRF. Word-searching for “jewelry” in the top right-hand corner will lead you to some other industry-related figures of your potential interest.

Read more at the National Retail Federation

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Alex and Gladys Rysman are the third generation to run Romm Jewelers in Brockton, Mass. And after many decades of service to the industry and their community, it was time to close the store and take advantage of some downtime. With three grown children who each had their own careers outside of the industry, they decided to call Wilkerson. Then, the Rysmans did what every jeweler should do: They called other retailers and asked about their own Wilkerson experience. “They all told us what a great experience it was and that’s what made us go with Wilkerson.” says Gladys Rysman. The results? Alex Rysman says he was impressed. “We exceeded whatever I expected to do by a large margin.”

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