Gen Z shoppers are making a statement this holiday season by prioritizing jewelry as a go-to gift, according to a survey by the National Retail Federation (NRF). With 30% of young adults aged 18 to 24 planning to give jewelry, they’re leading the charge in gifting trends.
Social Media: The New Shopping Guide
Platforms like TikTok and Instagram are driving Gen Z’s jewelry choices, explains Phil Rist, executive vice president of strategy at Prosper Analytics, which collaborated with the NRF. “Younger shoppers are embracing social media for gift inspiration,” Rist notes.
How Jewelry Stacks Up
Despite its popularity among younger buyers, jewelry ranked near the bottom of the overall holiday gift list:
- Clothing and accessories led with 54%.
- Gift cards followed at 44%.
- Toys, books, and media ranked higher than jewelry, with only 20% of all consumers planning to buy it.
Record Holiday Spending Expected
Overall holiday spending is projected to hit a record $979.5 billion to $989 billion, with shoppers spending an average of $902 per person. The NRF predicts most purchases will occur closer to the holidays, despite many shoppers having already started.
“The holiday season is in full swing,” says Katherine Cullen, NRF vice president of consumer insights. “While some have checked items off their list, most will finish their shopping in the coming weeks.”