SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
SurveysOct 04, 2018
Millennials Expected to Spend the Most This Holiday Season
And retailers’ inclusion and diversity practices will play a role in their purchasing decisions, according to a recent Accenture survey.
Consumer spending is expected to grow this year, and the millennial demographic is likely to lead the way in purchasing, according to a recent survey from Accenture.
New York—U.S. consumers are expected to spend more on holiday shopping this year, and millennials likely will be the biggest spenders of all, according to a recent Accenture survey.
The 12th annual Holiday Shopping Survey, comprised of the online input of 1,500 consumers, found that Americans are expected to spend an average of $658 on holiday shopping this year, up from $632 last year.
Eighty-nine percent of respondents said they plan to spend as much (53 percent) or more than (36 percent) they did last year. Only 11 percent plan to spend less.
Interestingly, the demographic expected to spend the most is the very group so many retailers have long been trying to attract: millennials.
Older millennials will spend an average of $779 in the 2018 holiday shopping season.
Meanwhile, 49 percent of younger millennials said they plan to spend more this holiday season than they did last year. This is nearly four times the amount of baby boomer survey-takers (13 percent) who said the same thing.
(Accenture defines younger millennials as those ages 21 to 27, and older millennials are those 28 to 37 years old.)
The survey also indicated that retailers’ inclusion and diversity practices will play a key role in millennial purchasing decisions this season.
There were a number of findings supporting the theory that if a retailer isn’t committed to inclusion and diversity, members of the demographic will find another place to shop. Here are some of the highlights.
1. Fifty-four percent of younger millennials surveyed believe retailers have a responsibility and duty to address wider social and political issues with regards to diversity.
2. Fifty-one percent of younger millennials are more likely to shop at a retailer that demonstrates awareness of such issues.
3. Millennials said they’re more likely to choose one brand over another if that brand demonstrates inclusion and diversity when it comes to its promotions and offers (70 percent of younger millennials and 69 percent of older millennials), in-store experience (66 percent of younger and 72 percent of older millennials), product range (68 percent of younger and 70 percent of older millennials) and environmental awareness (61 percent of younger and 57 percent of older millennials).
“Social media continues to be a real disruptor in targeting today’s consumers ... Now, more than ever, it’s imperative for retailers to further rethink and redesign their digital shopping capabilities and methods so they can meet customers
Editors' Picks
Sponsored by
on their terms.” – Accenture Senior Managing Director of Retail Jill Standish
4. Almost one in three younger millennials see staffing diversity in the workplace as an important factor when deciding where to shop.
“National and multinational retailers serve diverse customer bases, so they need to position the brand accordingly—in messaging as well as in product selection,” said Jill Standish, senior managing director of retail at Accenture. “That will require not just more local decision making, but also assistance from analytics tools that enable retailers to build a granular picture of their customers.”
There were a number of other notable findings from the survey.
1. As consumer confidence continues to grow (it’s nearing an 18-year high, according to the Conference Board), shoppers are less price sensitive; consumers appear less concerned with the economy and their overall financial situation than they were last year.
Fewer shoppers are likely to cite “a concern about the economy” as a factor that would negatively affect holiday shopping this year. They’re also less likely to cite healthcare costs, mortgage payments, the prospect of higher taxes, and a recent job loss or the fear of losing their job as spending factors.
2. Service and/or “experience” gift-buying is on the rise as the trend away from product gifts continues to grow in favor of travel, dining out, concerts, theater or “service” gifts like lawn care, home cleaning and spa treatments.
The number of shoppers who said they plan to buy physical products as gifts this year dropped 11 percentage points to 73 percent, and the number who said they planned to buy experience or service gifts increased 5 percentage points to 49 percent.
3. Social media is growing as a shopping platform, and its use for holiday shopping is increasing rapidly.
The percentage of respondents planning to use social media for holiday shopping this year nearly doubled, Accenture indicated, from 8 percent last year to 15 percent this year. Additionally, the percentage who indicated they check Instagram before looking or buying elsewhere online also more than doubled, from 6 percent to 14 percent.
“Social media continues to be a real disruptor in targeting today’s consumers, who are spending a great deal of time in these channels and naturally want to be able to purchase directly, through the click of a button,” Standish said. “Now, more than ever, it’s imperative for retailers to further rethink and redesign their digital shopping capabilities and methods so they can meet customers on their terms.”
“National and multinational retailers serve diverse customer bases, so they need to position the brand accordingly—in messaging as well as in product selection,” said Jill Standish, senior managing director of retail at Accenture. “That will require not just more local decision making, but also assistance from analytics tools that enable retailers to build a granular picture of their customers.”
There were a number of other notable findings from the survey.
1. As consumer confidence continues to grow (it’s nearing an 18-year high, according to the Conference Board), shoppers are less price sensitive; consumers appear less concerned with the economy and their overall financial situation than they were last year.
Fewer shoppers are likely to cite “a concern about the economy” as a factor that would negatively affect holiday shopping this year. They’re also less likely to cite healthcare costs, mortgage payments, the prospect of higher taxes, and a recent job loss or the fear of losing their job as spending factors.
2. Service and/or “experience” gift-buying is on the rise as the trend away from product gifts continues to grow in favor of travel, dining out, concerts, theater or “service” gifts like lawn care, home cleaning and spa treatments.
The number of shoppers who said they plan to buy physical products as gifts this year dropped 11 percentage points to 73 percent, and the number who said they planned to buy experience or service gifts increased 5 percentage points to 49 percent.
3. Social media is growing as a shopping platform, and its use for holiday shopping is increasing rapidly.
The percentage of respondents planning to use social media for holiday shopping this year nearly doubled, Accenture indicated, from 8 percent last year to 15 percent this year. Additionally, the percentage who indicated they check Instagram before looking or buying elsewhere online also more than doubled, from 6 percent to 14 percent.
“Social media continues to be a real disruptor in targeting today’s consumers, who are spending a great deal of time in these channels and naturally want to be able to purchase directly, through the click of a button,” Standish said. “Now, more than ever, it’s imperative for retailers to further rethink and redesign their digital shopping capabilities and methods so they can meet customers on their terms.”
More on Surveys
The Latest
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
IndependentsSep 29, 2026
Christy Bromberg, Longtime Gift Buyer for Underwood Jewelers, Dies at 68She is remembered for her joie de vivre, upbeat personality, genuine interest in other people, and love of the Alabama Crimson Tide.
AuctionsSep 29, 2026
Dionne Warwick’s Jewelry Goes Up for AuctionOnline bidding is open now for Julien’s sale of items owned by the “Walk On By” singer, whose final album comes out this fall.
Events & AwardsSep 29, 2026
Matt Stuller to Receive 2027 Gem Award for Lifetime AchievementThe founder and executive chairman of Stuller Inc. is being honored for his impact on the jewelry industry at the 25th annual Gem Awards.
ColumnistsSep 29, 2026
Your Holiday Marketing Has a Bridal Blind SpotDecember is the most popular month to propose, and jewelers need to keep that in mind when planning their holiday marketing.
AuctionsSep 29, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s collection of cat jewelry and other objects is going up for auction Wednesday.
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
FinancialsSep 28, 2026
Instappraise, Jewelers Mutual Look to Simplify Jewelry InsuranceThrough a new system integration, customers can now receive instant personal jewelry insurance quotes at the time of appraisal.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
MajorsSep 25, 2026
Sherwood Family Buys Back Daniel’s Jewelers from Private EquityThe Sherwood family and AJS Creations CEO Tejas Shah purchased the jewelry chain back from Palladium Equity Partners.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
