The highlight of a single-owner jewelry and watch collection, it’s estimated to fetch up to $7 million at auction this December.
Retail Sales Growth in 2021 Depends on Vaccines, Says NRF
The National Retail Federation is optimistic about the year ahead, so long as the vaccine rollout goes according to plan.

Washington, D.C.—The National Retail Federation’s annual forecast called for a strong year ahead as the vaccine rollout continues.
Retail sales are expected to grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021.
In a media call about the results, CEO Matthew Shay said the U.S. hasn’t seen this level of sales growth since 2004, noting the average growth has been 4.5 percent over the past five years.
Retail sales grew 6.7 percent year-over-year in 2020 and 3.9 percent in 2019.
“We continue to be optimistic that in the aggregate, macroeconomic conditions are very healthy and will continue to improve,” said Shay.
Online sales in 2021 are expected to grow between 18 percent and 23 percent to between $1.14 trillion and $1.19 trillion.
The NRF expects to see job gains between 220,000 and 300,000 jobs per month while GDP growth is expected to be between 4.5 and 5 percent.
“This forecast is a snapshot based on the current economic environment,” cautioned Shay, as some uncertainty remains.
NRF Chief Economist Jack Kleinhenz noted the economy’s trajectory is dependent on the effectiveness of the vaccine and its distribution.
The worst-case scenario, said Kleinhenz on the call, includes mutations of the virus or a vaccine that is ineffective.
Presuming that vaccination efforts are successful, Kleinhenz expects the economy to see its fastest growth in more than two decades.
Kleinhenz highlighted several factors to back up the NRF’s optimism, including a second year of “extraordinary savings,” record high stock valuations, increasing home prices, and low interest rates.
Stimulus checks have been especially helpful in boosting consumer spending, he said, particularly for the unemployed and the lower and middle classes.
“The consumer certainly has purchasing power and is willing to spend and we believe that’s going to be important,” said Kleinhenz.
The more affluent consumers have not been spending as much in comparison, he said.
About one-third of stimulus dollars go toward spending with another one-third going to savings and the remaining one-third paying down debt, noted Kleinhenz.
Retailers have benefited from a shift to goods from services over the last nine to 10 months, but the pendulum may swing in the other direction going forward, he said.
As life returns closer to normal, Kleinhenz said consumers will still spend on retail goods, but will spend on services as well, which accounts for 70 percent of consumer spending.
The NRF said it will update its estimates as available data and other factors change.
The Latest

The “Bullseye” necklace, with vintage bakelite and peridot, August’s birthstone, is the perfect transitional piece as summer turns to fall.

Sponsored by Clientbook

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

It will classify lab-grown stones into one of two categories, “premium” or “standard,” in lieu of giving specific color and clarity grades.


President Duma Boko addressed the country’s medical supply chain crisis in a recent televised address.

Former Free People buyer Afton Robertson-Kanne recently joined the retailer.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

The jeweler teamed up with two local organizations for its inaugural “Back to School and Bling” event.

The singer’s new bling, reportedly a natural old mine-cut diamond, is no paper ring.

Dubbed the “Imboo,” or “buffalo,” emerald, the rough gemstone is part of Gemfields’ latest emerald auction, which is taking place now.

Plans for dining out, booking vacations, and buying big-ticket items were down.

The “Play” collection centers on nostalgic toys that have kinetic elements to carry playfulness and wonder into adulthood.

Designer Christina Puchi, the creative force behind CCWW Designs, has created charms and pendants based on iconic candies and crackers.

The Jonas Brothers star showed off new timepieces against the backdrop of his favorite spots in his home state of New Jersey.

The family-owned jeweler in Fayetteville, North Carolina, is in the hands of the second generation.

In his latest column, Emmanuel Raheb shares tips for encouraging customers to treat themselves to new jewelry.

The new stand-alone Rolex boutique is housed in the former Odd Fellows Hall, a landmark built in 1897.

The Brilliant Earth ambassador co-designed a diamond medallion featuring meaningful symbols.

Wrap jewelry is more than just a trend; it’s the perfect motif for the coming season of layering, scarves, and pumpkin spice.

The three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.

Sriram “Ram” Natarajan is now GIA’s senior vice president of laboratory operations and is based out of the lab’s headquarters in Carlsbad.

The one-of-a-kind collar represents the beauty of imperfection and the strength to rebuild.

Three C-suite executives, including former CEO Tom Nolan, have resigned as part of what the company describes as a “transition.”

The retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.

Target CEO Brian Cornell will step down in February and be replaced by the company’s chief operating officer, Michael Fiddelke.

The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.