Though recession-battered jewelers may find it hard to believe, a new study predicts jewelry stores will see a big increase over the next few months.
A new IBM study, powered by its Big Data division, predicts brick-and-mortar jewelry sales will rise 11 percent this quarter.
“Improved consumer confidence, lower unemployment, and enhanced stock dividends from the fourth quarter of 2012 have combined to leave people ready to start spending on luxury items again, like jewelry,” said a blog post by lead analyst Michael Haydock.
The study suggests that the increase in jewelry sales will outpace just about every other consumer category, including runners-up children’s clothing (5.67 percent), sports and hobbies (3.95 percent), and beauty products (3.54 percent).
The company said it makes its prediction based on U.S. Census Bureau retail stats, as well as factors like consumer confidence, disposable income, and unemployment data.