08 Dec 2019
DiamondWorld Directory
Home |
News
Home
NRF survey predicts $4.4 billion spends on jewellery this Valentine’s Day
Says low gas prices and guaranteed promotions from retailers would propel consumer buying
By: Diamond World News Service
|
Feb 9 2016 8:23AM
|
Reference: 12661  

DecreaseIncrease
National Retail Federation’s (NRF) Valentine’s Day Consumer Spending Survey conducted by Prosper Insights and Analytics predicts an average spending of $146.84 by 54.8 percent of consumers compared to $142.31 last year. The consumers chose to spend on flowers, jewelry, candy, apparel and more.

“As the first major consumer holiday of 2016, Valentine’s Day could provide a positive boost in spending our economy needs,” said NRF President and CEO Matthew Shay. “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.”

The survey predicts that 38.3 percent of the consumers intend to spend $4.5 billion on experiences - the highest since NRF began tracking spending on gifts in 2010.

About $4.4 billion is expected to be spent on necklaces, earrings and other jewelry items by around 19.9 percent of consumers.

“With the winter holidays behind us, consumers may have a little more room in their budget to indulge on gifts for their loved ones,” said Prosper’s Principal Analyst Pam Goodfellow. “This year we expect consumers will look for unique and creative gifts, including that extra special ‘experience’ that can be shared any time throughout the year. Even those on a tight budget can find affordable ways to create a special moment with each other even past Valentine’s Day.”

The department stores are expected to be the most visited destination for purchases (34.5 percent of traffic) according to the survey, while 31 percent traffic would be directed to the discount stores and an additional 27.9 percent shopper traffic would be online.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Search News by City
Recent Issue
2019
AVAILABLE NOW...!
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 22493
GJEPC Chairman Interview
Views: 20542
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 27733
Promo for IJ Awards 2012 at NDTV Profit
Views: 40665
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 44411
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 17471
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 42544
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 40293
Advertisement
Finestar Diamonds
Advertisement
M.Tarun
Member of:
Supporter of: