SurveysDec 30, 2021
Jewelry Sales Climb 32% Over the HolidaysSurveysFeb 01, 2022
Valentine’s Day Jewelry Sales to Hit Record High, Says NRF
Jewelry spending for the holiday is estimated to reach a record $6.2 billion.
A pair of Picchiotti heart earrings set with diamonds, pink sapphires, and rubies ($14,150). Shoppers are expected to spend a record amount on jewelry this Valentine’s Day, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics.
Washington—The jewelry industry is expected to feel the love even more than usual this Valentine’s Day.
Jewelry spending for the holiday is estimated to reach a record $6.2 billion this year, up 50 percent from $4.1 billion in 2021, according to the annual survey released Monday by the National Retail Federation and Prosper Insights & Analytics.
The prediction marks the highest so far in the survey’s history.
Nearly a quarter (22 percent) of respondents will gift jewelry to their special someone this year.
The NRF includes all jewelry sales, from fine to fashion jewelry, in its calculations, as per a spokesperson.
Overall Valentine’s Day spending is expected to reach $23.9 billion this year, up about 10 percent from $21.8 billion in 2021. That would be the second-highest year on record.
“Following the historic level of consumer spending over the winter holidays, it appears that the trend will continue into 2022,” said NRF President and CEO Matthew Shay in a press release about the survey.
“Valentine’s Day is a special occasion for many Americans, even more so as we navigate out of the pandemic, and retailers are prepared to help them mark the holiday in a memorable and meaningful way.”
More than half (53 percent) of U.S. consumers will celebrate this year, up slightly from 52 percent last year.
Shoppers are expected to spend an average of $175.41 per person on gifts, up 6 percent from $164.76 in 2021.
Though friend-focused celebrations like Galentine’s Day have grown in popularity over the years, the increase in spending this year stems from gift-givers spending more on significant others or spouses, according to the survey.
The most popular gift for the holiday is candy (56 percent), followed by greeting cards (40 percent) and flowers (37 percent).
Nearly one-third (31 percent) of respondents will be celebrating with an evening out this year, up from 24 percent last year and just below pre-pandemic levels.
Those celebrating with a night out will spend an estimated $4.3 billion.
“While traditional Valentine’s Day gifts like candy and flowers seem to never go out of style, gift givers and recipients alike are more comfortable heading out for a special meal or participating in a new experience than they were a year ago,” said Prosper Insights Executive Vice President of Strategy Phil Rist. “This is especially true among younger age groups.”
The demand for experience-based gifts, like tickets to a concert or sporting events, has returned to pre-pandemic levels, said the survey, with 41 percent of respondents saying they would like to receive an experience gift, up from 36 percent in 2021.
The most popular place to shop for a Valentine’s Day gift is online (41 percent) followed by department stores (32 percent), discount stores (28 percent), local small businesses (18 percent), and florists (17 percent).
The annual survey was conducted Jan. 3-11 and included 7,728 U.S. adult consumers.
More on Surveys
The Latest
Policies & IssuesJul 01, 2022
U.S. Expands Sanctions to Russian GoldThe U.K, Canada, and Japan have also banned the import of gold originating from Russia.
Recorded WebinarsJul 01, 2022
Watch: What to Know About Livestream ShoppingJewelry marketing expert Laryssa Wirstiuk shares her tips and tricks for hosting a livestream shopping session.
SourcingJul 01, 2022
De Beers, Botswana Extend Sales Agreement for Third TimeThe current agreement, originally set to expire in 2020, will now go through June 2023.
Brought to you by
Preparing for Proposal Season with High-Quality, A.I.-Graded Natural Diamonds Rare & Forever is helping to create an enjoyable diamond buying experience for the millions of newly-engaged couples.
CollectionsJul 01, 2022
Piece of the Week: Brent Neale x Edie Parker PendantThe brands have collaborated on a fine jewelry ode to cannabis.
Weekly QuizJun 30, 2022
This Week’s QuizTest your knowledge of the latest jewelry news with this quick test.
Supplier BulletinJun 30, 2022
Here’s Where You’ll Find The Best Online Jewelry AuctionsSponsored by HiBid
CrimeJun 30, 2022
What JSA’s Annual Report Tells Us About Jewelry Crime in 2021Plus, JSA President John Kennedy talks about the trajectory of industry crime over the last 20 years.
Brought to you by
Discover The Extraordinary Italian Jewelry In Las Vegas!Experience all the Italian Jewelry market has to offer in Las Vegas.
CrimeJun 30, 2022
Smash-and-Grab Robbers Hit Booth at TEFAF: Watch the VideoThe fair was evacuated temporarily Tuesday after four suspects smashed a showcase and stole jewelry from British jeweler Symbolic & Chase.
Events & AwardsJun 30, 2022
Nominations Are Open for Gem Awards 2023The 21st annual awards show and gala will take place in New York City next March.
Events & AwardsJun 30, 2022
Registration Open for JIS Fall in Miami The jewelry trade show is scheduled for Sept. 30-Oct. 3 at the Miami Beach Convention Center.
AuctionsJun 29, 2022
Bonhams Expands Again with Purchase of Paris Auction House It is the fifth acquisition under the ownership of private equity firm Epiris, which bought Bonhams in 2018.
MajorsJun 29, 2022
Zales Has a New Diamond CutThe “Celebration Infinite” diamond has more than three times the number of facets in a traditional brilliant-cut diamond, the retailer said.
WatchesJun 29, 2022
Bulova Introduces New Frank Sinatra WatchesThe brand again partnered with the Frank Sinatra School of the Arts High School to celebrate the launch of the “Summer Wind” watches.
Events & AwardsJun 29, 2022
Registration Is Now Open for the HardRock Summit 2022Scheduled for Sept. 8-11, the event will comprise more than 310,000 square feet of show floor, exhibits, and education space.
ColumnistsJun 28, 2022
The PR Adviser: Why Should Someone Buy From You?If you’re having trouble answering this question, columnist Lilian Raji can help you get a started with a few fill-in-the-blank statements.
IndependentsJun 28, 2022
This Jeweler Is Celebrating 40 Years With 40 Days of GiveawaysContinental Diamond in Minneapolis is awarding a total of $25,000 in prizes via daily sweepstakes.
CollectionsJun 28, 2022
Melissa Kaye’s New Collection Doubles the Color“Lenox” marks the designer’s foray into bespoke jewels and large colored gemstones.
Events & AwardsJun 28, 2022
Second AGS Virtual Education Conference Is All About Negotiation Skills“Confluence” is happening in August.
MajorsJun 27, 2022
George Holmes, Longtime Head Editor of JCK Magazine, Dies at 93 He first took a job at then Philadelphia-based Jewelers’ Circular-Keystone in 1963 and retired in 1996.
MajorsJun 27, 2022
Mayors, Analog:Shift Team Up With GoopThe lifestyle platform will stock fine jewelry and watches from the retailers on its website and in store.
CrimeJun 27, 2022
JSA Warns of ‘Pandemic’ of Distraction Thefts Nationwide It cited two recent cases in California, plus incidents in Florida, Kansas, and Illinois.
IndependentsJun 27, 2022
Lewis Jewelers Set to Open New Ann Arbor Store This SummerThe 10,000-square-foot location allows for expanded collections from design partners while continuing custom design and other services.
CollectionsJun 27, 2022
This Designer Has Found a New Way to Bring Gemstones to LifeSvetlana Lazar’s “Wishing Well” collection utilizes an innovative component to mimic the movement of water beneath them.
Recorded WebinarsJun 24, 2022
Vegas Jewelry Recap: The Editors Weigh InWatch the webinar in which National Jeweler’s editors talk about jewelry market week trends and their predictions for the rest of 2022.
MajorsJun 24, 2022
Banter by Piercing Pagoda Celebrates Pride with ‘SayGay’ NecklaceAll proceeds up to $25,000 will benefit the It Gets Better Project, a nonprofit that supports LGBTQ+ youth.
