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NRF Predicts Strong Valentine’s Jewelry Sales
Feb 7, 2018 8:57 AM
By Rapaport News
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RAPAPORT... Consumers plan to spend $19.6 billion on gifts this
Valentine’s Day, with jewelry topping the list at $4.7 billion.
A survey by the National Retail Federation (NRF) showed a 3%
rise in the amount consumers intend to lay out on their loved ones over the holiday. Other
items on the list were an evening out at $3.7 billion, flowers at $2 billion,
$1.9 billion for clothing and $1.8 billion for candy.
“Valentine’s Day has become a holiday consumers take
advantage of, not only to spoil their loved ones, but themselves,” said Phil
Rist, executive vice president of strategy at Prosper Insights & Analytics,
which conducted the poll with the NRF.
“Gifts of experience,”
including concerts and sporting event tickets, were also a popular choice.
The survey found that 35% of shoppers were planning to make their purchases at department stores, 32% at discount stores, and 29% online.
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Tags:
Jewelry, National Retail Federation, NRF, Phil Rist, Prosper Insights & Analytics, Rapaport News, Valentine’s Day
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