Not to get anyone’s hopes up this Valentine’s Day, or get anyone else in trouble, but giving jewelry is back in style.
Jewelry sales made a big comeback this past holiday season after plummeting during the Great Recession and continue to gain steam headed into Monday’s holiday.
But don’t expect any Elizabeth Taylor-size rocks. Even as consumers return to the jewelry stores, they’re looking for a good deal.
“There is a mentality of value, even in the luxury jewelry market,” said Andrea Morante, chief executive of Pomellato, an Italian luxury-jewelry firm. “If a client is looking at a $70,000 ring, they want to know how many hours it took to produce. It’s a healthy trend for consumers to ask about value.”
U.S. jewelry sales rose 7.7 percent, to a record $63.4 billion, in 2010, according to a new report from the Jewelers Board of Trade, based on Commerce Department data. The uptick follows two consecutive years of declines. Sandra M. Jones, Chicago Tribune
