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NRF Releases Projections for Valentine’s Day Jewelry Spending

Published

8 years ago

February 5, 2016

INSTORE Staff

Ready for some good news?

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

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”