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Mother’s Day jewelry spending to increase
Americans are expected to spend a total of $4.3 billion on jewelry for the day, up considerably from $3.6 billion last year.
Washington, D.C.--Nearly 35 percent of shoppers are planning to splurge on jewelry for Mother’s Day this year, and their spending could total more than $4 billion, the National Retail Federation said on Monday.
According to the NRF’s 2015 Mother’s Day Spending Survey, 34.2 percent of consumers will “wow” their mothers will jewelry next month, spending $4.3 billion, up from $3.6 billion last year.
Still, jewelry will not be the No. 1 of those buying for the mother figures in their lives this May.
According to the survey, the majority of shoppers will pick up a greeting card (80 percent), spending more than $786 million, and another 67 percent will buy flowers, spending $2.4 billion. Respondents also plan on giving apparel and clothing items (36 percent), spending $1.9 billion.
Overall, the NRF said, total spending on Mother’s Day is expected to reach $21.2 billion, with Americans spending an average of $173, up from $163 last year and the highest amount in the survey’s 12-year history.
“We’re encouraged by the positive shift we’ve seen in spending on discretionary and gift items from consumers so far this year, certainly boding well for retailers across all spectrums who are planning to promote Mother’s Day specials,” NRF President and CEO Matthew Shay said.
Most survey respondents will head to department stores to make their purchases (33 percent), as well as specialty stores (28 percent) and discount stores (25 percent). Fewer are shopping online this year--only 25 percent, compared with 29 percent in 2014.
The survey also showed that consumers between the ages of 25 and 34 will spend the most on mom, an average of $244.
Americans also will shop for more than just their mom or step-mom: 23 percent will buy something for their wife, 10 percent for their daughter, 9 percent for their sister and 7 percent for their grandmother.
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