Jewelry sales will log a 4.2 percent gain on Valentine’s Day, outpacing other holiday mainstays such as candy and flowers, according to a forecast from research group IbisWorld.
That is in part because engagements look set to increase this year, and 10 percent of all proposals happen on Valentine’s Day, the group said. In addition, it looks like a good year for “premium” products, including expensive chocolates and romantic getaways.
Overall Valentine’s Day sales are projected to rise 3.7 percent. Jewelry was forecast to have the highest rate of growth of all categories except romantic getaways, which are projected to grow 5.1 percent. Candy sales were projected to grow 2.5 percent; flowers, 3.9 percent.
IbisWorld’s prediction runs counter to that of another leading prognosticator: The National Retail Federation has projected Valentine’s Day jewelry sales will decline.