The National Retail Federation has put their predictions out and it is positive for jewelry. Spending is down when compared to 2007, but 2011 is on the rise from last year which is good news for jewelry stores and the economy’s future. The NRF is predicting that 3.5 billion in jewelry will be sold in 2011 for Valentine’s Day compared to 3 billion in 2010.
“Though the economy will still be on their minds, Valentine’s Day holds a special place in many Americans hearts,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch. “Some may opt for a quiet night out or a home cooked meal to keep costs down, but it seems there are others who are a little more interested in a nice night on the town.”