Valentine’s Day jewelry demand could hit its highest level in the last seven years, according to a 2013 Valentine’s Day spending survey from the National Retail Federation conducted by BIGinsight.
The survey found that 19.7 percent of consumers plan to buy jewelry on Feb. 14, up from 18.9 percent in 2012, the highest figure in the survey’s last seven years. Overall jewelry spending is expected to hit $4.4 billion, 7 percent higher than last year’s $4.1 billion.
Jewelry ranked fifth in the survey, behind such Valentine’s Day staples as greeting cards (54.7 percent), candy (51.1 percent), flowers (36.6 percent), and an evening out (36.2 percent).
The survey also found that those that are planning to buy jewelry plan to spend an average of $157.32 on their purchase.
The overall survey found only a slight increase in Valentine’s Day spending, to $130.97, from $126.03 last year.
It also found that 40.7 percent of smartphone owners will use their device to shop for gifts, while 46.9 percent of tablet owners will use their devices to purchase items, research gift ideas, and more.