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Consumers Could Spend $4.6B on Jewelry This Mother’s Day
According to the National Retail Federation’s annual survey, 34 percent of consumers will buy jewelry for the moms in their lives this year.
The National Retail Federation said 34 percent of shoppers will buy jewelry as a gift for Mother’s Day, like the Moritz Glik locket rings seen here, which feature one diamond pave initial enclosed between white sapphires in 18-karat gold. The style retails for $2,480.
Washington—Consumers are planning to spend as much as $4.6 billion on jewelry for Mother’s Day this year, according to the National Retail Federation.
The organization’s annual survey about the holiday, which polled 7,520 consumers between April 4 and 12, showed that about 34 percent of consumers indicated they will buy jewelry for the moms in their lives this year.
Overall, the NRF said Mother’s Day spending is expected to total a near-record $23.1 billion, falling second to last year’s $23.6 billion, the highest amount in the 15-year history of the survey at an average $186 per person.
In 2018, a total 86 percent of Americans will celebrate Mother’s Day and spend an average of $180 per person.
“This year’s Mother’s Day forecast is one of the strongest we’ve ever seen,” NRF President and CEO Matthew Shay said. “With spring in full bloom, Americans are looking forward to splurging on their mothers and retailers are prepared to offer a variety of options that will allow consumers to find the perfect gift for the occasion.”
In addition to jewelry, shoppers also are expected to spend $4.4 billion on special outings like dinner or brunch (55 percent) and $2.6 billion on flowers (69 percent).
Another $2.5 billion will be spent on gift cards (45 percent), $2.1 billion on clothing (36 percent), $2.1 billion on consumer electronics (14 percent) and $1.8 billion on personal services like a spa day (24 percent).
Still an additional $956 million will be spent on housewares or gardening tools (19 percent), $813 million on greeting cards (77 percent) and $494 million on books or music (19 percent).
In terms of what they want to receive, 29 percent of survey takers said they want to get a “gift of experience” like a spa day, tickets to a concert or gym membership, while 26 percent plan to give these experiences as a gift.
Shoppers between the ages of 35 and 44 are expected to be the biggest Mother’s Day spenders this year at an average $224 each, but younger consumers are the most likely to online shop for Mom.
When searching for gifts, 35 percent said they will go to department stores, 31 percent will shop online and 29 percent plan to shop at specialty stores such as florists, jewelers or electronics stores.
Meanwhile, 23 percent plan to shop at a local small business, 22 percent at
discount stores and 10 percent at specialty clothing stores.
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