IBISWorld Expects U.S. Jewelry Sales Rise 11 percent in Valentine
The Market research firm expected...U.S. jewelry sales for Valentine's Day will increase about 11 percent from 2010 to $1.46 billion, Market research firm IBISWorld expected.
IBISWorld measured seven key gift categories including jewelry, cards, candy, flowers, clothing, dining out and travel. In all, the group expects total sales to increase almost 6 percent to $18.6 billion.
“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.”
Luxurious getaways were forecast to make a strong increase too growing by 5.7 percent from one year ago. Since Valentine's Day falls on a Monday this year, many consumers will be unable to travel.
However IBISWorld noted that wealthy consumers would still splurge on bed-and-breakfast getaways and long-weekend vacations to warm and sunny locations.
By: JewelryOurs
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