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Valentine Business

February 14, 2014

Valentine Business

Today is Valentine’s Day, and the holiday will most likely expand to the entire weekend due to the holiday falling on a Friday this year. Even with most of the American South and Northeast still digging out from the latest winter storm, the holiday still has an economic impact.
Valentine’s Day for 2014 is expected to contribute $17.3 billion the economy, and that is actually a decline from previous years. That works out to easily over $100 per person! Some of the top gifts and industries that receive the benefit of this holiday are (not surprisingly) floral shops (generating $1.35 billion), greeting cards (generating $784.3 million), candy (over $400 million), and restaurants ($7.86 billion).

McKinsey, a global consultancy, just put out an interesting study and analysis of where the firm thinks the global jewelry industry is headed over the next decade. Wearable jewelry, everyday jewelry, and partnerships with fashion designers to make more jewelry easier to wear — the possibilities are almost without limit. With current global sales of approximately $188 billion per year, this is certainly something to keep an eye on!

Happy Reading!

http://www.mckinsey.com/insights/consumer_and_retail/A_multifaceted_future_The_jewelry_industry_in_2020?cid=other-eml-alt-mip-mck-oth-1402

https://www.mint.com/blog/trends/how-valentines-day-helps-the-economy/

http://useconomy.about.com/od/grossdomesticproduct/p/Valentines_Day_Economic_Facts.htm

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