Wednesday, 4th February 2004 (4433 views)

Consumers across the globe are gearing up for a golden Valentine's Day this year, with the latest data indicating a growing number of gift givers.

According to data released by the National Retail Federation (NRF) in America well over half (59.8 per cent) of all consumers will be buying gifts on Valentine's Day.

Luxury items such as jewellery are the most popular gift, with Valentine's Day spending expected to reach $12.79 billion in the US alone this year - marking an increase of 23 per cent over Valentine's spending last year.

'From co-workers to classmates, Valentine's Day has become a holiday to express appreciation for a variety of people,' explained NRF President and CEO Tracy Mullin.

'Valentine's Day has become a very big business for retailers in what is traditionally one of the slowest shopping months of the year.'

A number of high profile jewellery ranges are being launched to coincide with the day, including a new offering from Inverness Corporation.

The manufacturer of fashion jewellery is offering Inverness 24-carat, gold-plate earrings in classic “Double Heart”, “Triple Heart” or “Dangling Heart” design for the Valentine's Day lover.

 

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