The costs of food and groceries remained a top concern, followed by the labor market and U.S. politics.
Surveys
![The Conference Board’s consumer confidence index rose in May after three consecutive months of decline. Woman shopping](https://uploads.nationaljeweler.com/uploads/45b018da3f722f1f3cb322fbc313d63e.jpg)
Expectations of a recession rose for the second consecutive month.
Its recent report dives into the current dilemma facing luxury brands.
Latest in Surveys
![The Conference Board’s consumer confidence index fell to 97 in April, marking a third consecutive month of decline. Woman holding a dress](https://uploads.nationaljeweler.com/uploads/034b4244a1ef56a34060ab9abf27e993.jpg)
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
![The “Mom Tattoo” pendant by Established in 14-karat yellow gold with rubies ($9,240). Shoppers are expected to spend $7 billion on jewelry gifts for Mother’s Day, down from last year, according to an annual survey by the National Retail Federation and Prosper Insights and Analytics. Established Mom tattoo pendant](https://uploads.nationaljeweler.com/uploads/2c3d3848692111ad1e893eea2a1662de.jpg)
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
![The Conference Board’s consumer confidence index slid down to 104.7 in March as consumers expressed concerns about inflation and anxiety about the future economy. Hand holding shopping bags](https://uploads.nationaljeweler.com/uploads/4dd47a6ffdb70728de6123c43a5ca7c9.jpg)
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
![IGI BTYB National Jeweler Imagery-01.jpg](https://uploads.nationaljeweler.com/uploads/35d7374176c5c5efe26fa75fe449b136.jpg)
IGI can surpass your expectations when it comes to elevating your brand, protecting your business, training staff and more.
![Jewelers of America’s new “Careers in the Jewelry Industry” guide is available online and in print. Stock image of woman on laptop with charts](https://uploads.nationaljeweler.com/uploads/05c9d06a641d122ccad44ca4a0cd2190.jpg)
From bench jewelers to appraisers, Jewelers of America’s updated guide shares an overview of how much industry employees are being paid.
![](https://uploads.nationaljeweler.com/uploads/99a46b30cc354962ac2e29ecd113587a.jpg)
![The Conference Board’s consumer confidence index fell to 106.7 in February as consumers grappled with economic uncertainty. Shoppers holding bags in winter weather](https://uploads.nationaljeweler.com/uploads/23390ee76945ef7a0ec7f4d5aa5f13f1.jpg)
The Conference Board’s revised January reading suggests consumers did not start off 2024 as confidently as previously thought.
![The Conference Board’s consumer confidence index rose to 114.8 in January—its highest level since December 2021—from a downwardly revised 108.0 in December 2023. Shoppers outside in winter weather](https://uploads.nationaljeweler.com/uploads/6e51185e836503e4b5b11a2f0809636d.jpg)
The Conference Board attributed the upbeat results to slowing inflation and the anticipation of lower interest rates.
![Untitled design.jpg](https://uploads.nationaljeweler.com/uploads/583fbcb2bb839782810080debef35d3c.jpg)
As the demand for lab-grown diamond jewelry may still be increasing, the most notable change we are likely to see is price stabilization.
![An 18-karat yellow gold and enamel ruby heart ring by Sig Ward (price upon request). Shoppers are expected to spend $6.4 billion on jewelry this Valentine’s Day, according to the annual survey by the National Retail Federation and Prosper Insights and Analytics. Sig Ward heart ring](https://uploads.nationaljeweler.com/uploads/2519d3c3dc0ff2aea82bc6b94c850a4d.jpg)
The organization shared its predictions on how much consumers will be spending and on whom.
![Retail sales, excluding sales at gas stations, restaurants, and car dealerships, were up 3.8 percent year-over-year during the 2023 holiday season and rose 3.6 percent for the full year, the NRF said last week. Stock image of hand holding holiday shopping bags](https://uploads.nationaljeweler.com/uploads/8e9d379978382b0e4c72db3a3260667b.jpg)
Retail sales also were up about 4 percent for the full year.
![The Conference Board’s consumer confidence index rose to 110.7 in December from a downwardly revised 101.0 last month, its highest level since July. Winter shoppers holding shopping bags](https://uploads.nationaljeweler.com/uploads/e21a465cb8a9b56c9424722bfc62a355.jpg)
More optimistic views on the labor market as well as current and future business conditions gave the index a boost.
![In the five-day period from Thanksgiving through Cyber Monday, 200.4 million consumers went shopping, according to the National Retail Federation’s annual survey. Holiday shoppers holding bags](https://uploads.nationaljeweler.com/uploads/60e2f9d75cdb0357f1e73c226d6c9f30.jpg)
From Thanksgiving through Cyber Monday, 200.4 million consumers shopped online and in stores.
![The National Retail Federation predicted that a record-breaking 182 million consumers will shop both online and in-store over the holiday weekend. Holiday shopping at laptop](https://uploads.nationaljeweler.com/uploads/7ecdf40e71827e4226ec5b95184b7006.jpg)
Though consumers have started holiday shopping earlier, the organization still predicts a busy Thanksgiving weekend for retailers.
![The National Retail Federation expects holiday sales to grow 3 to 4 percent year-over-year, according to its annual forecast, released Thursday. Holiday presents](https://uploads.nationaljeweler.com/uploads/8a69652995a81229f62cb4a407158590.jpg)
Sales will increase compared with last year, though the rate of growth is expected to slow.
![The Conference Board’s consumer confidence index fell to 102.6 in October from 104.3 in September. Stock image of hand holding shopping bags](https://uploads.nationaljeweler.com/uploads/6cca446fe0e09f3b6f190d3134c5b373.jpg)
The Conference Board’s monthly index that measures how consumers are feeling declined for the third straight month in October.
![Shoppers are expected to spend $875 on average celebrating winter holidays this year, up from $833 last year, according to the National Retail Federation’s latest consumer survey, conducted by Prosper Insights & Analytics. Stock image of holiday gifts in bags](https://uploads.nationaljeweler.com/uploads/8537701c5d256705d04078608cd0e420.jpg)
Discounts and promotions could persuade consumers to shop earlier this year, the survey found.
![Conducted in September, the first Shopify-Gallup Holiday Shopping Pulse survey of the season asked 1,761 consumers about their shopping plans for the upcoming holidays. Wrapped holiday gift boxes](https://uploads.nationaljeweler.com/uploads/25f4f2ab1d23eb44018d8708277e7e9a.jpg)
The seasonal survey asked consumers how, when, and where they’ll shop for holiday gifts.
![The Conference Board’s consumer confidence index fell to 103 in September from 108.7 in August. Hands pushing a shopping cart](https://uploads.nationaljeweler.com/uploads/9879364980140e723cd7164676d48c05.jpg)
Shoppers also expressed concern about rising prices, higher interest rates, and political uncertainty.
![Mastercard predicts retail sales will grow 3.7 percent in November and December, though jewelry sales are forecast to remain essentially flat amid a “rebalancing” in consumer spending. Gold holiday gift boxes](https://uploads.nationaljeweler.com/uploads/21ea748f492c792913f554eadee9bd2b.jpg)
According to SpendingPulse, retail sales will increase in November and December but not necessarily for jewelers.
![Bain & Company and Deloitte recently shared their holiday forecasts. Online holiday season shopping](https://uploads.nationaljeweler.com/uploads/343ceb463ba8654b044633ee805c8831.jpg)
From holiday spending to inflation’s impact, here’s what analysts are forecasting for the season.
![The Conference Board’s consumer confidence index dropped to 106.1 in August from 114 in July. Shopping bags](https://uploads.nationaljeweler.com/uploads/82eeaa06e9fb1dacc69b8166c877f478.jpg)
A cooling labor market and high interest rates are taking a toll on consumer confidence in the U.S.
![The Conference Board’s consumer confidence index rose to 117 in July from 110.1 in June. Hand holding shopping bags](https://uploads.nationaljeweler.com/uploads/8f10b6ec71b3d01760bf5add229f2822.jpg)
This is in spite of rising consumer confidence in July.
![The Conference Board’s consumer confidence index rose to 109.7 in June from 102.5 in May. Hand holding shopping bags](https://uploads.nationaljeweler.com/uploads/8c4bbfb29ead1c1c50df200eab2e4eb5.jpg)
Consumer spending may shift to services as “revenge spending” on post-pandemic travel slows, said the Conference Board.
![The Conference Board’s consumer confidence index fell to 102.3 in May from 103.7 in April. A hand holding shopping bags](https://uploads.nationaljeweler.com/uploads/c6ae95b2344991743dfacb45424965e5.jpg)
Consumers over the age of 55 were particularly pessimistic about the economic outlook.
![The “Mom Tattoo” pendant by Established in 14-karat yellow gold with rubies ($9,240). Shoppers are expected to spend $7.8 billion on jewelry gifts for Mother’s Day, according to an annual survey by the National Retail Federation and Prosper Insights and Analytics. 20230428_Mom pendant.jpg](https://uploads.nationaljeweler.com/uploads/04672e095a82cd91c4127935ee94e332.jpg)
Shoppers are expected to spend a record high of $35.7 billion on Mother’s Day gifts this year, according to the National Retail Federation.
![Jewelers of America just launched the Jewelry Industry Salary Study, which it created to gain a better understanding of the industry’s current salary structure. Individuals have from now through May 2 to complete the survey online. 20230406_JA salary study.png](https://uploads.nationaljeweler.com/uploads/35f08c95df959ad0bbdf0804237dc589.png)
Jewelers of America wants to know for its new study, which will be used to update its “Guide to Careers in the Jewelry Industry.”
![The National Retail Federation forecasts U.S. retail sales to increase between 4 percent and 6 percent this year, a reflection of an economy that is slowing down. 2023_shopping mall interior.jpg](https://uploads.nationaljeweler.com/uploads/344ff7539137c02c7aebe4bf44cef053.jpg)
The statement came as the National Retail Federation released its retail sales forecast for 2023.
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