Valentine’s Day Jewelry Sales Reports Mixed

After such a dismal holiday season in terms of sales, many jewelry retailers may have been looking to Valentine’s Day – the second most important holiday in the area of jewelry sales in the U.S. – to make up for some of the winter retail blues.

This was the highest spending increase category – over gift store sales (14 percent), bookshops (17 percent), restaurants and cafes (29 percent), motels (40 percent) and travel companies (15 percent). Specific spending figures were not provided.

Jewelers in San Luis Obispo, on the central California coast, reported to the San Luis Obispo Tribune that Valentine’s Day sales of gold and platinum jewelry were comparable or better than in previous years.

“I expected it to be mediocre, but I was really surprised,” said Jeff McKeegan, owner of Marshalls Jewelers in downtown San Luis Obispo. “It could be our best Valentine’s yet.”

McKeegan explained that, although he stocked high-end silver jewelry as an option for customers smarting from high energy prices and a faltering economy, (and now the skyrocketing precious metals prices), gold jewelry sales remained strong.  

K-Jon’s Fine Jewelers General Manager Ric Haley also commented and said that he sees more people waiting to see what will happen with regard to precious metals prices and the overall economy. “Every precious metal has gone up. People are sitting on the fence longer and waiting to see what happens before buying.”

The Texarkana Gazette showcased jewelers in Texas, such as Parks Diamond Jewelers, reporting an increase in the sales of engagement rings in the run up to Valentine’s Day. Manager Diane Cooper said that engagement rings are beginning to branch out past the traditional round diamond solitaires set in gold.

Popular items for the jeweler this year include pave settings, white gold and princess cut diamonds. Colored diamonds and gemstones have also shown strength, and, of course, heart-shaped engagement rings are also selling in this period.

Finally, Robuck Jewelers owner James Robuck said that, while Valentine’s Day was “really great” for his business this year, not all retail jewelers could say the same. “The traveling salespeople that come through tell me that a lot of jewelry stores in the area and around the country have not been this fortunate,” Robuck told KSNT, a local Kansas news station.