ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DaySurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRF
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The “Mom Tattoo” pendant by Established in 14-karat yellow gold with rubies ($9,240). Shoppers are expected to spend $7 billion on jewelry gifts for Mother’s Day, down from last year, according to an annual survey by the National Retail Federation and Prosper Insights and Analytics.
Washington—Shoppers plan to spend a little less this Mother’s Day compared with the record-breaking high of last year.
Consumers are expected to spend $33.5 billion, down from last year’s $35.7 billion, according to the annual survey by the National Retail Federation and Prosper Insights and Analytics.
The forecast would mark the second-highest spend in the history of the survey.
“Mother’s Day is a time to celebrate the women who play a meaningful role in our lives,” said NRF President and CEO Matthew Shay.
“Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation.”
A majority of U.S. adults (84 percent) plan to celebrate the holiday, spending an average of $254.04 on gifts and celebrations.
That’s the second-highest per-person spend, following last year’s record $274.02 per person.
The biggest spenders are expected to be shoppers between the ages of 35 and 44, who plan to spend $345.75 on average.
Of those surveyed, 59 percent of those celebrating are shopping for a mother or stepmother, followed by a wife (22 percent) then a daughter (12 percent).
Flowers and greeting cards are tied for the top gift (74 percent) followed by special outings, like dinner or brunch (59 percent).
Jewelry gifts take the No.1 spot in terms of spending dollars, with shoppers expected to spend a total of $7 billion on jewelry, down from $7.8 billion last year.
That’s followed by special outings ($5.9 billion), electronics ($3.5 billion), flowers ($3.2 billion), and greeting cards ($1.1 billion).
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Consumers are expected to spend $33.5 billion, down from last year’s $35.7 billion, according to the annual survey by the National Retail Federation and Prosper Insights and Analytics.
The forecast would mark the second-highest spend in the history of the survey.
“Mother’s Day is a time to celebrate the women who play a meaningful role in our lives,” said NRF President and CEO Matthew Shay.
“Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation.”
A majority of U.S. adults (84 percent) plan to celebrate the holiday, spending an average of $254.04 on gifts and celebrations.
That’s the second-highest per-person spend, following last year’s record $274.02 per person.
The biggest spenders are expected to be shoppers between the ages of 35 and 44, who plan to spend $345.75 on average.
Of those surveyed, 59 percent of those celebrating are shopping for a mother or stepmother, followed by a wife (22 percent) then a daughter (12 percent).
Flowers and greeting cards are tied for the top gift (74 percent) followed by special outings, like dinner or brunch (59 percent).
Jewelry gifts take the No.1 spot in terms of spending dollars, with shoppers expected to spend a total of $7 billion on jewelry, down from $7.8 billion last year.
That’s followed by special outings ($5.9 billion), electronics ($3.5 billion), flowers ($3.2 billion), and greeting cards ($1.1 billion).
“Gifts that are thoughtful in nature remain a priority for Mother’s Day shoppers,” said NRF.
More shoppers than last year said they want to find gifts that are unique or different (48 percent) or that create a special memory (43 percent).
“Even though consumers continue to gravitate toward classic Mother’s Day gifts like flowers and greeting cards, almost one-third plan to give a gift of experience this year,” said Prosper Executive Vice President of Strategy Phil Rist.
“Consumers also plan to spend more on special outings than they have in the past.”
The most popular shopping destination for the holiday is online (35 percent), followed by department stores (32 percent), specialty stores (29 percent) and local or small businesses (25 percent).
The NRF surveyed 8,213 U.S. adult consumers from April 1 to 8.
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