SEE what NRF predicted this Valentine
8% fall is expected in the jewelry sale on this Valentine week. On V-Day special season jewelry sales experiences Y-O-Y slope, resulting a business of $4.45 billion as per NRF’s (National Retail Federation)survey.
Spending on jewelry, this Valentine season is likely to fall by 8% as per the survey by National Retail Federation. NRF in its survey proclaims that U.S consumers, who on every occasion prefer to gift jewelry to their beloved, unlikely 2015 now showing less interest in jewelry this Valentine’s Day. Thus, the total market dwindled to $4.45 billion sales according to Prosper Insight’s survey. Further, the Analytics found that where 21.1% respondents wished to buy jewelry on Valentine day for their beloved in the year 2015 now contracted to just 19.9 percent. A sudden decline in the sale of jewelry, puts an adverse effect on the jewelry industry of the U.S. In the year 2015, the market has earned $172.38 in the Valentine season, but in 2016 the earning has shrunk to $166.08 means the market faces a fall of 3.7% in the jewelry sale. Matthew Shay, CEO and President of the National Retail Federation in his statement that has stated on the February 3 portrays that as Valentine is falling on Sunday (a holiday) so it could proffer a positive boost in the spending especially in spending the discretionary needs. He likewise added that Low gas prices in addition to the guaranteed promotions from large and small retailers lure the consumers as well as motivate them to select the perfect gift for their love mates.