Two surveys JCK has published in the last two weeks show that jewelry sales will increase this Valentine’s Day. The National Retail Federation forecasted that jewelry spending would rise 7 percent higher than 2012, while a study by IBISWorld predicted that jewelry sales would only show a modest gain.
I found an infographic from PriceGrabber that seems to support the latter, but also includes a few stats that jewelers should note.
For example, 69 percent of consumers plan to do their shopping in a store, according to PriceGrabber. Retailers whom I spoke to earlier this week said they hadn’t seen an influx of Valentine’s Day shoppers yet, so there’s still time to beef up marketing plans to catch shoppers who are out on foot looking for the right gift.
Jewelers should also be aware that 36 percent of shoppers will check prices from their mobile phone while shopping. Be sure to have a good idea of what your competition is offering and how your promotions compare to theirs.
Was this infographic helpful? Has your store experienced an increase in Valentine’s Day sales? What promotions are you planning for the next two weeks?
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