EditorsOct 28, 2026
These Wicked Jewels Will Cast a Spell on YouFor her annual Halloween story, Senior Editor Lenore Fedow highlights bewitching jewels fit for a witch that go from day to unholy night.
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
CrimeOct 28, 2026
Man In Florida Who Swallowed Tiffany & Co. Earrings ConvictedJaythan Gilder was found guilty of robbery and grand theft after stealing and then ingesting nearly $800,000 worth of Tiffany & Co. jewelry.
SurveysOct 28, 2026
Consumer Confidence Up in October as Gas Prices EaseConsumer confidence remains on the long-term downward trend that’s persisted over the past few years, said a Conference Board economist.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
MajorsOct 28, 2026
Stuller’s Holiday Campaign Lets the ‘Magic of the Moment’ ShineThe holiday campaign includes key jewelry trends, a curated holiday gift guide, and resources to help jewelers prepare for holiday shoppers.
Weekly QuizOct 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingOct 27, 2026
De Beers Celebrates the Holidays With New ‘Desert Diamonds’ CampaignThe “Icons” holiday campaign spotlights four classic diamond jewelry styles reimagined in “Desert Diamond” tones.
IndependentsOct 27, 2026
Solomon Brothers Acquires Mervis Diamond ImportersSolomon Brothers, which has three stores in the Metro Atlanta area, said it may continue to acquire other independent jewelers.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
IndependentsOct 27, 2026
Gabriel & Co. Supports Charity Partner DKMS With Gala, New JewelsThe fine jewelry brand raised $2.3 million at its annual gala that supports the nonprofit’s fight against blood cancer and blood disorders.
Events & AwardsOct 27, 2026
JFC Announces 2027 ‘Facets’ HonoreesThe annual fundraising event is slated for June 6, 2027, at The Venetian Resort in Las Vegas.
CollectionsOct 26, 2026
Bliss Lau’s ‘Vantage’ Point Is the Hawaiian HorizonIn her “Vantage” collection, Lau explores heritage, identity, and inner strength through designs featuring blue-green Guatemalan jade.
MajorsOct 26, 2026
Tiffany & Co. Takes Consumers Behind the ScenesThe jeweler gave the public backstage tours of its flagship store and its design and innovation workshop as part of LVMH’s open house.
Events & AwardsOct 26, 2026
Support JFC’s ‘Monster Mash Challenge,’ If You DareVote for which jewelry professional should dress up as a monster to support Jewelers for Children’s annual Halloween fundraiser.
MajorsOct 23, 2026
PGI USA Set to Close at Year’s EndThe closure is part of a global restructuring that also includes PGI winding down its operations in Japan, South Korea, and Hong Kong.
SourcingOct 23, 2026
Rachel Chalchinsky’s ‘Survivor Tribute’ RingThe ring, our Piece of the Week, was designed by eight-year breast cancer survivor Rachel Chalchinsky of Color Source Gems.
TechnologyOct 23, 2026
JA Unveils New Website, LogoThe website offers enhanced member benefit access, industry directories, educational resources, a job board, and access to the MJSA Journal.
CrimeOct 22, 2026
Jeweler Shot and Killed in His Suburban Cincinnati Store Tara Sinchuri was the owner of Everest Jewels in Fairfield, Ohio, and a father of three. He was found dead in his store on Tuesday.
MajorsOct 22, 2026
Neiman Marcus Has Gifts for the Jewelry Lover Who Has EverythingBespoke experiences from Buccellati and Verdura are on the retailer’s 2026 “Fantasy Gifts” list.
Events & AwardsOct 22, 2026
JIS Fall 2026 Reports Record-Breaking Attendance The number of participants at the fall show was up 12 percent.
CollectionsOct 22, 2026
Billie Eilish, Finneas Co-Design Collection for John HardyThe Academy and Grammy award-winning siblings have collaborated with John Hardy on a new jewelry line inspired by their personal style.
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
SourcingOct 21, 2026
Venetia Mines Final Carats Ahead of 2-Year ShutdownThe De Beers-owned diamond mine in South Africa is being put on ice as part of a round of previously announced cost-cutting measures.
CollectionsOct 21, 2026
Helzberg, Nordstrom Carrying New Jewelry Collection From Off-WhiteThe collection centers designs with clean geometric lines, chunky sculptural pieces, and recognizable details from the luxury fashion brand.
SourcingOct 21, 2026
Gemfields’ Mixed-Quality Ruby Auction Earns $52MThe miner said it saw particularly strong prices for larger, fine-quality rubies at the sale.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
