Silver to Dominate Valentine’s Day Jewelry Purchases
Posted by Rick Brandt on Tue, Feb 14, 2012 @ 08:19 AM
Today is Valentine’s Day, and the National Retail Federation predicts that the average person participating in this year’s holiday festivities will spend 8.5 percent more on gifts than last year. The total projected spending for this year’s romantic holiday is estimated at $17.6 billion. It should be no surprise that jewelry tops the list of gifts that will be given.
$4.1 Billion To Be Spent on Valentine’s Jewelry
An exclusive survey of jewelry retailers from National Jeweler showed that 2011 was a strong year, with 72 percent of survey participants reporting improvements in same-store sales over 2010. As 2012 gets underway, Valentine’s Day spending will mirror the upswing seen last year.
According to the National Retail Federation survey on Valentine’s Day spending, close to 19 
percent of the 9,317 respondents will purchase jewelry for their loved one. Total jewelry spend is estimated at $4.1 billion, up from $3.5 billion in 2011.
Silver Most Popular Precious Metal
So, what’s on the Valentine’s Day jewelry hot list this year?
Consistent with 2011 as a whole, silver will dominate Valentine’s Day jewelry purchases as a result of its lower price point. Consumers find that they can purchase a high-end, impressive piece of jewelry at a lower price than the more expensive, gold alternatives.
With consumers looking for more bang for their buck, retailers told National Jeweler that they are stocking items such as sterling silver heart earrings and chains. Silver pieces paired with pearls or semi-precious stones will also be popular. All of these items cost under $1,000 per piece.
Those with more money to spend can check out recommendations from National Jeweler and Forbes, which feature jewelry pieces with unique colors and shapes to really make a statement this Valentine’s Day.
Jewelry is Forever
Whether consumers purchase silver, gold or diamonds, jewelry continues to be a vital component in Valentine’s Day giving. Unlike flowers and chocolates, jewelry is a timeless gift that spans generations and creates lasting memories. Only time will tell how jewelry buying trends will change with the continuing fluctuation of precious metals prices.
Happy Valentine’s Day!
Are you celebrating Valentine’s Day this year? Will you be purchasing jewelry for your loved one?
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