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NRF: AMERICANS TO SPEND $4.7 BILLION ON JEWELRY ON VALENTINE’S

A survey conducted by the National Retail Federation (NRF) and Prosper Insights & Analytics, which asked 7,277 consumers about their Valentine’s Day plans, found that Americans plan to spend $4.7 billion on jewelry. 19% of those surveyed said they would buy jewelry for the romantic day.

 

Overall, US consumers are expected to spend an average $143.56 on Valentine’s Day – an increase from last year’s $136.57. Total spending is expected to reach $19.6 billion, up from $18.2 billion in 2017. According to the NRF, “the numbers are the second-highest in the survey’s 15-year history, topped only by the record $146.84 and $19.7 billion seen in 2016”.

 

Consumers plan to shop at department stores (35%), discount stores (32%), online (29%), specialty stores (19%), florists (17%), and local small businesses (14%).

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