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IBISWorld Forecasts 7% Jump in Jewelry Sales for Christmas

Nov 30, 2011 5:13 PM   By Jeff Miller
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RAPAPORT... IBISWorld predicts that jewelry sales for the Christmas season will increase 7.1 percent year on year to $4.7 billion in the U.S. Total sales of all Christmas-related gifts could increase 3.4 percent to $47.2 billion and aggregate spending, including decorations and food, is expected to increase 3.3 percent to $64.3 billion, according to the group.

IBISWorld concluded that lingering unemployment will keep holiday retail sales from hitting pre-recessionary levels, despite the decline in aggregate household debt.

''The luxury market has led the economy in recovery, showing signs of growth throughout 2011,'' said IBISWorld's senior analyst Nikoleta Panteva.  ''The holidays are an especially appropriate time for consumers to purchase splurge-worthy items like jewelry for their loved ones.''

Electronics are expected to fare well this season due to the onslaught of new product introductions calling for gadget upgrades. Clothing purchases are expected to make a comeback, increasing 3.4 percent year on year to $8.5 billion.  High-end, designer wear and children’s apparel are likely to lead the pack in sales growth.  Personal care and cosmetic items are likely to underperform with  perfumes and scented body lotions  being the best sellers within that group.

Tags: christmas, growth, Jeff Miller, Jewelry, projections, sales
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