Consumers are expected to spend $3.5 billion on jewelry this Valentine’s Day,
up from an estimated $3 billion last year, according to the National Retail
Federation’s 2011 Valentine’s Day Consumer Intentions and Actions Survey
conducted by BIGresearch.
The NRF’s report comes on the heels of a report from IBISWorld that predicted
Valentine’s Day jewelry sales will increase 11.3 percent.
“Jewelry, candy, and apparel sales should provide a nice boost for retailers
during the typically slower months of January and February,” NRF president and
CEO Matthew Shay said in a statement.
Total holiday spending is expected to reach $15.7 billion. The average person
will spend $116.21 on traditional Valentine’s Day merchandise this year, up 11
percent over last year’s $103.