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According to a National Retail Federation survey, 41 percent of consumers are predicted to give jewelry as a gift this year.
Consumers are expected to spend $7 billion on jewelry gifts for Mother’s Day in 2022, according to the National Retail Federation. Pictured is a 14-karat yellow gold custom graffiti bracelet from K Kane ($2,850).
Washington, D.C.—This Mother’s Day, jewelry spending is expected to hit a whopping $7 billion.
According to the annual consumer survey released by the National Retail Federation and Prosper Insights & Analytics, 41 percent of consumers are predicted to give jewelry as a gift this year, up from 34 percent in 2021.
The survey polled 8,574 consumers from April 1-11.
It found that about 84 percent of U.S. adults are predicted to celebrate the holiday this year.
Overall, Mother’s Day spending is expected to total $31.7 billion in 2022, which is up $3.6 billion from last year’s record spending, according to the NRF.
Consumers are planning on spending $25 more this year than last on purchases for Mother’s Day and expected to spend a record average of $245.76.
“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” NRF President and CEO Matthew Shay said.
In addition to jewelry purchases, special outings are also driving this year’s spending increases.
Twenty-seven percent of Mother’s Day shoppers are expected to give gifts of experience, like concert or sporting event tickets, up from 23 percent last year and the highest since NRF started tracking the category in 2016, it said.
More than half of consumers (57 percent) plan to spend an average of $40.90 on a special outing like dinner or brunch.
Meanwhile, greeting cards and flowers are still a staple gift, with 75 percent of shoppers planning to buy cards and 72 percent planning to buy a Mother’s Day bouquet.
When it comes to where they are purchasing, more than one out of three (36 percent) plan to buy their holiday gifts online, the NRF said.
Another 30 percent plan to shop in department stores, 27 percent in specialty stores, and 23 percent at local small businesses.
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