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Mother’s Day Jewelry Spending Expected to Hit $7.8B
Shoppers are expected to spend a record high of $35.7 billion on Mother’s Day gifts this year, according to the National Retail Federation.
The “Mom Tattoo” pendant by Established in 14-karat yellow gold with rubies ($9,240). Shoppers are expected to spend $7.8 billion on jewelry gifts for Mother’s Day, according to an annual survey by the National Retail Federation and Prosper Insights and Analytics.
Washington—Shoppers plan to spend a record amount on Mother’s Day this year, with jewelry gifts taking the No.1 spot in terms of spending dollars.
Consumers are expected to spend $35.7 billion, nearly $4 billion more than last year’s record high of $31.7 billion, according to the annual survey by the National Retail Federation and Prosper Insights and Analytics.
A majority of U.S. adults, 84 percent, are expected to celebrate the day.
“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” said NRF President and CEO Matthew Shay.
“As people make plans to celebrate this year, retailers are prepared to help shoppers find gifts of appreciation and admiration for those they want to recognize on this special day.”
Shoppers plan to spend $274.02 per person, the highest amount in the survey’s history, up from last year’s record high of $245.76.
The top spenders are those ages 35 to 44, who are expected to spend an average of $382.26.
The most popular gifts, in line with previous years, are flowers (74 percent), greeting cards (74 percent) and special outings, like brunch or dinner, (60 percent).
In terms of amount spent, jewelry takes the top spot at $7.8 billion, up from $7 billion in 2022, followed by $5.6 billion on outings, and $4 billion on electronics.
Expected spending is on the rise across all gift categories, said NRF, with jewelry, electronics, and apparel driving growth this year.
“Not only are consumers planning to spend more on these gift categories, but more consumers are interested in gifting these items than ever before,” said NRF.
More shoppers are also exploring product subscription boxes, with 46 percent of respondents interested in this option, up from 39 percent last year.
“Gifts of experience continue to grow in popularity, with nearly one-third of those celebrating Mother’s Day planning to give a gift of experience.”
Thoughtful gifts still remain a priority, according to the survey, with respondents stating the most important factors in picking a gift include finding unique items (47 percent) or gifts that create a special memory (42 percent).
Most people (57 percent) are shopping for a mother or stepmother, followed by a wife (23 percent) or a daughter (12 percent).
“While most consumers shopped online last year for the perfect Mother’s Day gift, we are seeing just as many people turn to department stores as a shopping destination this year,” Prosper Executive Vice President of Strategy Phil Rist said.
Online and department stores remain in the top spots (both 34 percent) for shopping destinations, followed by specialty stores (30 percent), local and small businesses (24 percent), and discount stores (23 percent)
The NRF surveyed 8,164 U.S. adult consumers from April 3-11.
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