US consumers are projected to spend a record $6.4 billion on jewelry gifts for Valentine’s Day 2024, outpacing last year’s total by 16.3%, and up an amazing 64.1% compared to 2019, according to a survey just released by the National Retail Federation (NRF) and Prosper Insights & Analytics. Jewelry topped all other categories for the 8th year in a row and is expected to account for 25 cents of every dollar spent on gifts for the holiday.
![](https://thejewelerblog.files.wordpress.com/2024/01/nrfvalentine2024.1.jpg?w=575)
The jewelry category’s gains come at the same time when overall Valentine gift sales are expected to be flat. Total spending for Cupid’s Day, according the the NRF, is projected to tick down in 2024 from $25.9 billion to $25.8 billion.
The NRF also predicted new spending records for three other categories: “evening out” ($4.9 billion), “clothing” ($3 billion) and flowers ($2.6 billion) categories.
Another important finding is that spending dollars seem to be shifting towards “significant others” and away from “other family members,” “friends,” “children’s classmates/teachers” and “co-workers.”
The value of Valentine’s Day gifts intended for significant others/spouses will see an increase of 5.2% in 2024 ($14.2 billion vs. $13.5 billion). Gift budgets allocated to significant others/spouses is expected to reach an all-time high of $101.84, while overall household spending for Valentine’s Day is expected to be $185.81, down from $192.80 in 2023 and off the $196.31 peak set in 2020.
Exactly 57% of survey respondents intended to give candy in 2024, followed by greeting cards (40%), flowers (39%), an evening out (32%), jewelry (22%), clothing (21%) and gift cards (19%).
More than half of consumers (53%) plan to celebrate Valentine’s Day this year, which is on par with the 52% tallied last year. Sixty-two percent of consumers ages 25-34 plan to celebrate this year, a higher proportion than any other age group.
According to the NRF, among those not celebrating Valentine’s Day, 29% still plan to mark the occasion in some way. Many will treat themselves to something special, while others will plan a get-together or evening out with their single friends or family members.
As the leading authority and voice for the retail industry, NRF provides data on consumer behavior and spending for key periods such as holidays throughout the year. The survey of 8,329 US adult consumers was conducted January 2-8 and has a margin of error of plus or minus 1.1 percentage points.
Credit: Image by BigStockPhoto.com.
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Great event. Thank you Huntsville ... See MoreSee Less
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💎 Step back in time with Elliott's Jewelers at our August Estate Jewelry Event! From August 22nd to 24th, explore exquisite, historical pieces from our collection. Preview our treasures here: www.elliottsjewelers.com/from-the-vault/#categories& and reserve your private viewing appointment between 9:30 am and 5:00 pm. Don’t miss your chance to own a piece of history! 👑 🕰️
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Picture this: an 'Anniversary Diamond' that sparkles with brilliance and the memories of years together. Why not consider upgrading the diamond in your wedding ring this upcoming milestone anniversary?
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Mark your milestone anniversary with a special upgrade from Elliott's Jewelers.💕 Can I make this ring for you?
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That is a very beautiful ring! What would something like this cost?
That’s a Beautiful ring WOW!
I no longer have anniversary’s, but it’s very pretty. Thanks for sharing. JS
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🌟 Uncover the history and beauty of estate jewelry at Elliott's Jewelers this August! Join us for our exclusive Estate Jewelry Event from August 22nd-24th. Dive into our vault here: www.elliottsjewelers.com/from-the-vault/#categories& and select pieces to view at your private appointment. Book now to secure a spot from 9:30 am to 5:00 pm each day and make history part of your style! 🕰️✨
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Make your old jewelry work for you! 🌟 At Elliott's Jewelers, every piece holds value. Trade in your unworn treasures for funds or upgrade to something new and sparkling. Refresh your collection today. See how far your jewelry can take you with us! 💍 Find out more: www.elliottsjewelers.com/sell-your-jewelry/
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Book an Appointment At Elliott’s Jewelers, you can be sure that you are getting the best possible appraisal for your jewelry. Our jewelry experts are trained and certified in jewelry appraisal, and ...1 CommentComment on Facebook
I have sent you pictures twice but never received a response.
🌟 Step into a world of timeless elegance with our August Estate Jewelry Event at Elliott's Jewelers! 📅 Mark your calendars: August 22nd-24th. Immerse yourself in the stories of exquisite pieces from our vault. To make this experience truly personal, we are scheduling exclusive appointments from 9:30 am to 5:00 pm each day.
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Gorgeous
💎 Discover timeless treasures at our August Estate Jewelry Event! Join us from August 22nd-24th at Elliott's Jewelers. Each piece has a unique story waiting to be part of yours.
Explore our exclusive collection here and book your private appointment from 9:30 am to 5:00 pm daily. Spaces are limited to ensure personalized attention. ✨ Find your next jewel with us! See more here: www.elliottsjewelers.com/from-the-vault/#categories&
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Very pretty.
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Beautiful 😍
Well done!
Thank you so much for your support & for such a beautiful piece!
Elliott's Jewelers wishes you and your family a Happy 4th of July! We will be closed on Thursday, July 4th. Elliott's Jewelers was thrilled to be part of Mitch and Lauren Fussell's love story. Do you have an Elliott's Jewelers story too? Let's celebrate by sharing it with us so we can continue making history together! Your stories inspire us every day. 🎆
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Wish I could click the “Love” and “Wow” Buttons at the same time.