NRF Predicts $4.7B of Valentine's Day Jewelry Sales

RAPAPORT... Consumers plan to spend $19.6 billion on gifts thisValentine's Day, with jewelry topping the list at $4.7 billion. A survey by the National Retail Federation (NRF) showed a 3%rise in the amount consumers intend to lay out on their loved ones over the holiday. Otheritems on the list were an evening out at $3.7 billion, flowers at $2 billion,$1.9 billion for clothing and $1.8 billion for candy. "Valentine's Day has become a holiday consumers takeadvantage of, not only to spoil their loved ones, but themselves," said PhilRist, executive vice president of strategy at Prosper Insights & Analytics,which conducted the poll with the NRF. "Gifts of experience,"including concerts and sporting event tickets, were also a popular choice. The survey found that 35% of shoppers were planning to make their purchases at department stores, 32% at discount stores, and 29% online.