CollectionsMay 03, 2024
A Sneak Peek Into PGI’s ‘Couture Platinum Spotlight Program’PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
SurveysFeb 09, 2016
Valentine’s Day Spending to Hit a High
The National Retail Federation says consumers will spend a total of $19.7 billion on loved ones this Valentine’s Day, $4.4 billion of which will go toward jewelry.
Washington--The National Retail Federation says consumers will spend a total of $19.7 billion on their loved ones this Valentine’s Day, $4.4 billion of which will go toward jewelry.
Nearly one in five shoppers are planning to treat their significant other or family member to “something precious,” i.e. jewelry, this year, which equates to nearly 20 percent of those who took the NRF’s 2016 Valentine’s Day Spending Survey.
The largest percentage of respondents, 50 percent, said they plan to buy candy, spending a total of $1.7 billion. A little more than 38 percent said they’ll treat their dates to a night out at a restaurant, or with tickets to a show or other experience, spending $4.5 billion, the highest spend amount since NRF began the survey in 2010.
About $1.1 billion will be spent on greeting cards, $1.9 billion on flowers and $2 billion will go toward purchases of apparel.
The NRF also for the first time asked survey-takers about “gifts of experience.” Around 24 percent of respondents said they plan to give a gift of experience, such as tickets to a concert, a spa service or art lesson, and nearly one in four (39 percent) said they’d love to receive a gift of experience.
In total, the 55 percent of consumers the NRF said will celebrate Valentine’s Day this year will spend an average of $146.84 on gifts like flowers, jewelry, candy and apparel, up from $142.31 in 2015.
“Low gas prices and promotions from retailers large and small should help consumers as they look for the perfect gift for their friends and family,” said NRF President and CEO Matthew Shay. “Looking ahead, we’re optimistic consumers are in a good place when it comes to spending on discretionary items like gifts.”
Department stores will see the most traffic with 35 percent of respondents heading to those types of stores to shop, followed by discount stores (31 percent), online (28 percent), florists (19 percent) specialty stores (19 percent) and small, local businesses (15 percent).
The NRF’s 2016 Valentine’s Day Spending Survey polled a total of 7,293 shoppers between Jan. 5 and 12.
More on Surveys
The Latest
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
EditorsApr 25, 2024
5 Tips for Creating Fans from the Top (Savannah) Banana Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
WatchesApr 25, 2024
Audemars Piguet and John Mayer Partner on Limited Edition WatchThe Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
