Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
More consumers to save tax refunds, not spend
Nearly half of consumers recently surveyed said they will be saving their tax refund money this year rather than spending it, according to the National Retail Federation.
Washington--Nearly half of consumers recently surveyed said they will be saving their tax refund money this year rather than spending it, according to the National Retail Federation.
The NRF’s Tax Return Survey found that 46 percent of respondents expecting a refund will put their money into savings, up from 44 percent last year and the highest percent in the survey’s history.
“Financial security is top-of-mind for all Americans, and refunds can play a huge role in helping achieve that,” said NRF President and CEO Matthew Shay.
In addition to saving, 38 percent of respondents said they would pay down debt with their refund, 25 percent will use it toward everyday expenses, 13 percent will take a vacation and 11 percent will invest in a major purchase. (Survey-takers were allowed to select more than one use for their tax refunds.)
The survey also showed that it is young adults who are most likely to deposit some, if not all, of their refund directly into their savings accounts.
According to the NRF, 58 percent of survey-takers between the ages of 18 and 24 will contribute to their savings account with their refund, higher than any other age group. They will also use the money for everyday expenses (34 percent), to pay down debt (30 percent) or for a major purchase (18 percent).
“Young adults today are extremely smart about their money, and will look for ways to reap the benefits of their hard work that comes from their refunds. It’s also likely that 18- to 24-year-olds have learned from their parents the valuable lesson of saving for a rainy day, thanks in part to the Great Recession and current economic conditions,” said Pam Goodfellow, consumer insights director at Prosper Insights & Analytics, the company that conducted the NRF survey.
When it comes to completing their taxes, 65 percent of the survey’s respondents said they would do so online, up from 63 percent last year and the highest percent in the survey’s history.
Another 38 percent of respondents said they would prepare their taxes on their own using computer software, up from 37 percent last year. Others will manually prepare their taxes (12 percent), use a tax preparation service (17 percent), use an accountant (23 percent), or look to a spouse, relative or friend for help (10 percent).
While 23 percent of survey-takers have already filed their taxes, 37
The NRF’s Tax Returns Survey was conducted by Prosper Insights & Analytics from Feb. 4 to 10, and was designed to gauge consumer behavior and shopping trends related to tax returns.
The Latest
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show