The fast-casual chain partnered with Anna Sheffield’s Bing Bang NYC brand on a capsule collection and it’s a little “extra.”
Retail Sales to Grow About 4 Percent This Year, NRF Says
Online and non-store sales, meanwhile, should increase between 10 and 12 percent.

Washington--The National Retail Federation has released its growth predictions for the year ahead, and they’re slightly higher than last year’s figures.
Overall retail industry sales are expected to increase between 3.8 and 4.4 percent. Included in this number are online and all types of non-store sales, which should see a 10 to 12 percent increase over last year.
Last year, the NRF predicted retail sales would increase between 3.2 and 3.8 percent. While subject to revision, the U.S. Census Bureau’s preliminary analysis of 2017 shows that an increase slightly higher at 3.9 percent over 2016 to $3.53 trillion.
NRF President and CEO Matthew Shay noted that a strong holiday season is one indicator of a positive year ahead.
“A robust holiday season for retail sales is just one of many barometers that points to a consumer who is clearly feeling positive about their financial health,” he said.
“Despite headlines to the contrary, the retail industry is strong, growing and meeting consumer demand with the products they want at the prices they expect and the shopping experience they want to have, online or in store. With consumer confidence high, unemployment low and wages growing, there is every reason to believe that retail sales will be robust throughout the year.”
When National Jeweler spoke with retailers during the holiday season, several thought that a positive economic outlook, due in part to a booming stock market, was responsible for a healthy holiday season.
Last week, however, the stock market showed great volatility, trading “about 20,000 points back and forth in a roughly 2,000-point trading range,” according to an analysis by CNBC. The week was feared to be the worst for the stock market since the 2008 financial crisis, but narrowly avoided it.
Any ongoing volatility in the year ahead is likely to have a negative impact on growth.
But the NRF is also predicting positive gains for unemployment in 2018, another essential aspect of the U.S. economy.
Jobs are expected to increase by 163,000 a month this year, slightly down from last year but in line with labor market growth, and unemployment is predicted to decrease by 3.9 percent by the end of 2018.
NRF Chief Economist Jack Kleinhenz said: “The underpinnings of the economy are very good and consumer spending is at the center of our outlook. The push and pull of forces both external and internal to the U.S. economy
Though online and non-store sales are predicted to increase more than in-store sales, TD Bank’s Retail Experience Index recently affirmed that the in-store buying experience for fine jewelry remains essential.
In a recent survey of 1,021 consumers, the financial institution found that 47 percent of jewelry shoppers spent one to two hours in a jewelry store on average before making a major purchase and tended to visit three to four different stores.
Underscoring the importance of reaching consumers via multiple channels of sale, 47 percent of these shoppers spent three to six hours researching online. Ultimately, 54 percent of customers ended up buying in-store, 34 percent online and 10 percent through a retailer’s app.
Jewelry shoppers also continue to be repeat purchasers. Seventy-eight percent of the shoppers who had spent $500 or more in the last year said they were “very” or “extremely likely” to make another significant purchase in the next six months, indicating that they are likely turning to fine jewelry purchases for occasions, like birthdays and holidays.
TD Bank said that all of this data highlights the importance of the in-store experience, as 60 percent of shoppers said that knowledgeable sales associates are “very important” to deciding where to shop and 69 percent of them sought help from an associate during their last jewelry store purchase.
Seventy-nine percent of those surveyed said the sales associate was influential in deciding their ultimate purchase.
The Latest

The diamond and tanzanite bracelet was inspired by the waves of the Italian gulf near Genoa.

De Beers Institute of Diamonds provides the very best in diamond verification, education and diamond services.

The home improvement store’s website features an “Empowerment Tools” demi-fine jewelry collection.


The show will feature a new pavilion of 30 jewelry designers and manufacturers from Surat, India.

A government official said search crews “found the needle in the haystack” when they located the capsule belonging to Rio Tinto along an 870-mile stretch of road.

De Beers is sharing over 130 years of experience and expertise through the De Beers Institute of Diamonds with a selection of courses.

Amanda Gizzi welcomes February with a selection of amethyst jewelry, a birthstone that “deserves its own time to shine.”

Behind the playful and nostalgic brand lies deeper meaning.

The Time Century Jewelry Center is located in downtown Miami’s jewelry district.

The IJO also welcomed one new vendor member to its 13-member board, Brecken Farnsworth of Parlé Jewelry Designs.

It begins with a “t” and ends with a “c” and is imbued with warmth and positivity, Peter Smith writes.

The tiny capsule, which is believed to have fallen out of a truck, was lost somewhere along an 870-mile stretch of desert road.

The jeweler’s expansion plans include 20 to 30 more stores in North America and the Middle East over the next two to three years.

The Italian luxury brand will receive the first Gem Award for High Jewelry Excellence.

Industry veteran Kevin Lane has stepped into the role.

The ancient Egyptian teenager was buried 2,300 years ago with 49 amulets to guide him through the afterlife.

Nominations are open now through March 24.

A column detailing how independent jewelers did last year and the top watch brands of 2022 were among the most-read stories last week.

Acquired in 2021, the brand’s high jewelry sales have doubled and its new “Lock” collection was an instant hit.

Executives from Fred Meyer Jewelers and Riddles Jewelers have filled the roles.

The Victorian-inspired design is a functional lock and key.

For over 100 years, JA New York has played an integral role in facilitating the evolution of our industry, while also honoring past traditions.

The trend forecaster and her guests explored unconventional jewelry designs, NFTs, AI art, and more during her Trendvision presentation.

The Emerging Designers Diamond Initiative provides diamond credit and mentorship to young brands helmed by BIPOC designers.

It will be located in San Antonio’s Alamo Quarry Market and will be Lee Michaels’ third location in the city.