CollectionsJun 30, 2025
State Property’s New Jewelry Tells ‘The Story of Everything’Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.
SurveysFeb 12, 2018
Retail Sales to Grow About 4 Percent This Year, NRF Says
Online and non-store sales, meanwhile, should increase between 10 and 12 percent.
The NRF said 2018 retail sales will grow between 3.8 and 4.4 percent over last year, which includes a 10-12 percent increase in online and other non-store sales.
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
will continue to provide challenges, but on balance we expect a good year. And as the retail industry continues to transform, retailers will leverage the new tax plan to invest in their employees, stores and new formats that engage with the ever-evolving and demanding consumer.”
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.
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.
More on Surveys
The Latest
ColumnistsJun 30, 2025
The Smart Lab: Why Q3 Is the Secret Weapon For Holiday Jewelry SalesThe best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.
Events & AwardsJun 30, 2025
AGA Names Recipient of 2025 Gemological Education ScholarshipThis year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
IndependentsJun 30, 2025
Melanie Grant’s New Book Explores 200 Years of Jewelry“The Jewelry Book” comes out this September.
Weekly QuizJun 26, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyJun 27, 2025
Gemist Raises $6M in Funding to Scale Jewelry Tech PlatformThe company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
IndependentsJun 27, 2025
David Webb Announces New Hires, PromotionsFollowing its recent acquisition, the storied brand has updated its leadership team and regional managers.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
Events & AwardsJun 27, 2025
AGS, GIA Announce Beatrice Shipley Scholarship Winner AGS also named the recipient of its “Women in Leadership” scholarship.
CollectionsJun 27, 2025
Piece of the Week: Buddha Mama’s ‘Monstera’ Wrap RingThe 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.
MajorsJun 26, 2025
Why Rocksbox Is Opening Stores As Signet Jewelers DownsizesRocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.
IndependentsJun 26, 2025
Penny Ruston Dies at 80 The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.
CollectionsJun 26, 2025
Jam Out With Sorellina’s Jimi Hendrix-Inspired JewelsThe “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.
Events & AwardsJun 26, 2025
The Jewelry Symposium Is Looking for Speakers for 2026 EventThe event is set for May 16-19 in Detroit, Michigan.
IndependentsJun 25, 2025
Marissa Collections Opens in Nantucket as Legal Fight ContinuesThe Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.
CrimeJun 25, 2025
Customs Nabs Another Big Shipment of Fake Cartier, Van Cleef JewelryAgents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.
CollectionsJun 25, 2025
Splash into Karina Choudhrie’s Collection of Underwater Circus PerformersThe designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.
Events & AwardsJun 25, 2025
JA Announces Impact Initiative Fund RecipientsThe trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.
SourcingJun 25, 2025
2025 AGTA Spectrum Awards Open for EntriesThe organization has also announced this year’s slate of judges.
EditorsJun 24, 2025
The Best New Jewelry from Couture 2025, Part 2Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.
IndependentsJun 24, 2025
Colorado Bench Jeweler Celebrates 50 Years With Local RetailerLori Tucker started at Williams Jewelers when she was 18 years old.
WatchesJun 24, 2025
Citizen’s New ‘Fantastic Four’ Watch Is Literally Super The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.
MajorsJun 24, 2025
Tacori, QVC to Launch Exclusive Lab-Grown Diamond Jewelry CollectionThe “XO Tacori” collection was designed to blend luxury and accessible pricing.
GradingJun 23, 2025
GIA Names New President and CEO Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.
Recorded WebinarsJun 23, 2025
Watch: Top Trends at Couture, JCK Las Vegas 2025National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.
SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSignatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.
Events & AwardsJun 23, 2025
Jose Hess Design Awards Celebrate 6 Jewelry DesignersThe winning designs captured the “Radiance” theme.
