A Celebration of Jewelry and the Business Behind the Beauty
Leibish & Co
Tuesday, January 25, 2011
Survey: Valentine’s Day Jewelry Sales Expected to Sparkle
Jewelry sales for Valentine’s Day are expected to total nearly $1.5 million, a year-over-year growth of 11.3 percent, according to industry research firm IBISWorld.
“Luxury spending is already on the rise, so it will come as no surprise that bracelets, earrings, necklaces and rings will be the go-to gift choice for many Americans,” said IBISWorld retail industry analyst Nikoleta Panteva. “This year, IBISWorld expects jewelry to make up 7.8 percent of all Valentine’s Day sales, making its way back to pre-recessionary levels.”
Only flowers, at 16.8 percent, is expected to grow at a more rapid pace, according to IBISWorld, which tracks sales in seven categories, including greeting cards, candy, dining out, clothing and lingerie, and romantic getaways.
Sales for the romantic holiday are expected to grow in all categories, making the day pretty sweet for retailers, IBISWorld said. Consumers are forecast to spend 5.8 percent more on Valentine’s Day purchases in 2011 than 2010, totaling $18.6 billion or about $125 per person.
This blog is for those who are passionate about jewelry and watches and want to learn more about the industry. It's a place to find the best new products from all over the world and the latest news about the business of jewelry, watches and luxury. Readers gain a backstage pass to the glamour, fun and difficulties of the industry.
I am a freelance writer and editor who covers the luxury jewelry and watch industry for several publications, including Forbes.com the Financial Times, Hong Kong-based JewelleryNetAsiaand the Italian jewelry magazine, VO+. In addition, I have my own blog covering the jewelry and watch industry, Jewelry News Network.