On Valentine’s Day, consumers will spend 5.6 percent more on jewelry, outperforming categories like candy and greeting cards, according to forecaster IBISWorld.
The research firm says that jewelry sales will hit $1.6 billion, up from 2014’s $1.51 billion.
That outperforms categories like dining out, where spending is projected to rise 4.3 percent, as well as the holiday as a whole. Overall Valentine’s Day spending will jump 3.8 percent, it says.
“The holiday falling on a Saturday and low fuel prices will encourage more extravagant plans and weekend getaways for couples looking to do something special this year,” a statement says.
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