Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
FinancialsFeb 25, 2021
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.
Retail sales are expected to grow between 6.5 percent and 8.2 percent to more than $4.33 trillion in 2021, according to the National Retail Federation.
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.
Buying online will stick around, he said, as consumers enjoy the convenience and product selection.
The NRF said it will update its estimates as available data and other factors change.
More on Financials
The Latest
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
Weekly QuizMar 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
WatchesMar 16, 2026
TAG Heuer Has a New CEOBéatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu BoutiqueThe store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.
CollectionsMar 13, 2026
A Trio of Jewels from the 3 Gem Award Nominees for Jewelry DesignOur Pieces of the Week honor the 2026 nominees for the Gem Award for Jewelry Design, Silvia Furmanovich, Cece Fein-Hughes, and Catherine Sarr.
WatchesMar 13, 2026
Citizen, Vera Wang to Launch Watch CollectionThe 24-piece watch collection is set to debut in spring 2027.
SourcingMar 13, 2026
Andrea Pooler Joins Third-Generation Diamond Company as COO Pooler, who has more than 25 years’ experience in jewelry, is now chief operating officer of Modani Jewels, Soham Diamonds, and SNJ Creations.
MajorsMar 13, 2026
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe reopening of the Waldorf Astoria means a homecoming for the industry group’s annual event, which will take place Saturday.
CollectionsMar 12, 2026
Jessica McCormack Sends Gold, Gemstones Into ‘Orbit’McCormack looked to the 19th century’s “golden age” of astronomy when designing her new celestial-themed collection.
Events & AwardsMar 12, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on Friday.
TechnologyMar 12, 2026
Caratwise Launches, Names Former Signet Exec CEO The new smart design software allows jewelers to configure, price, and confirm a custom engagement ring in real time for in-store customers.
SourcingMar 12, 2026
Grandview Klein Opens New Factory in South Africa The 10,000-square-foot diamond manufacturing facility officially opened in late February and employs 50 people.
Events & AwardsMar 12, 2026
MJSA ‘Future of Jewelry Making’ Scholarship Applications OpenThe MJSA Education Foundation’s scholarships support students pursuing jewelry careers.
AuctionsMar 11, 2026
‘Spectacular’ 26-Carat Diamond Going Up for Auction in London The largest white diamond to come to market in the U.K. in more than a decade, the VVS1, I-color stone is expected to top $1 million.
TechnologyMar 11, 2026
Cast Jewelry’s Rachel Skelly on Coming Back Online Only Skelly shares her plans for reimagining the fine jewelry retailer she re-acquired after it faltered last year.
CollectionsMar 11, 2026
Pyrrha Highlights ‘The Space Between’ In New CollectionThe collection takes inspiration from the emotional space between people, moments, and experiences.
IndependentsMar 11, 2026
From the Jazz Age to the Information Age: London Jewelers Turns 100In 2026, the jewelry retailer is celebrating a milestone only a small percentage of family-owned businesses survive to see.
IndependentsMar 11, 2026
Virginia Jewelers Raise Nearly $30K for Children’s HospitalThe group of jewelers held a jewelry raffle in support of the Children’s Hospital of Richmond at VCU.
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
