NRF Predicts Record Spending on Jewelry for Mother’s Day 2021
It is expected to account for 59 percent of the $1.4 billion uptick in the total this year, according to a recent survey.
The organization released the results of its annual survey, saying it predicts shoppers will spend $28.1 billion on mom in 2021 amid consumer optimism as more people are getting vaccinated and stimulus checks are distributed.
About 83 percent of U.S. adults are expected to celebrate Mother’s Day this year, with consumers spending an average of $220.48 on items, a $16 increase over last year’s figure and the highest in the NRF survey’s history, it said.
“For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown,” NRF President and CEO Matthew Shay said. “With safety guidelines at top of mind, consumers are planning to be with family, are making travel plans and organizing a special brunch or outing. All of these activities will be reflected through their purchasing decisions.”
The primary driver behind the increase this year is a record spending on jewelry and electronic gifts, according to NRF, with jewelry accounting for 59 percent of the $1.4 billion increase and electronics accounting for more than one-fourth (28 percent).
Consumers between the ages of 25 and 34 will also be part of the rise—they plan to spend an average of $367.08 this year, NRF said, which is $99 more than last year.
Shoppers in this demographic are the most likely to plan gifts of higher-dollar goods like jewelry or electronics and are more likely to buy gifts for spouses, grandmothers, and friends in addition to their own moms.
Additionally, this year nearly half (49 percent) of survey-takers said they’re planning a special Mother’s Day outing, like brunch or some other activity, up slightly from last year but still below pre-pandemic levels, NRF said.
“Even though consumers have indicated a growing comfort with pre-pandemic activities such as travel or dining out, there is still a lot of uncertainty,” Prosper Insights & Analytics Vice President of Strategy Phil Rist said. “As we’ve seen with other holiday events, a large majority (82 percent) say that as a result of the pandemic, celebrating Mother's Day this year is important to them.”
This year’s survey for Mother’s Day polled 7,818 U.S. adults 18 and older from April 1-9; last year’s, however, was conducted during the height of government-mandated shutdowns.
For Mother’s Day 2021, 34 percent said they plan to buy their Mother’s Day gift online, which is down from last year, when shoppers were dealing with mandated shutdowns, but still above pre-pandemic levels.
In addition to buying online, consumers also plan to shop at department stores (28 percent), specialty stores like florists or jewelers (26 percent), and small businesses (23 percent).
More than 250 gem, jewelry, and mineral companies are expected to exhibit, including the American Gem Trade Association.
This year’s Design Atelier is full of gems.
They’re a testament to the power of excellent design.
The most trusted diamond report, available in print or the GIA App.
This year’s honorees include one of Florida’s largest independent jewelers and two multi-store independents in the Chicago and New York areas.
The industry’s most influential contemporary designers are showcasing their latest jewelry designs.
Created by Maitri Lab-Grown Diamonds and graded by IGI, it’s slightly bigger than the record-setting lab-grown diamond GIA just examined.
Navigate origin determination with Continuing Education seminars offered by the GIA Alumni Collective™.
The marketing agency has integrated its first C-suite.
The jewelry trade show also will debut educational content centered around social media.
Luxury kicks off today, with the full show in swing on Friday.
One of the three new collections was inspired by the legend of a woman who traded her mansion to Cartier for two strands of natural pearls.
Rob Ballew will be tasked with communicating the jewelry giant’s plans and financial performance to investors.
With the app, customers receive a 15-day insurance offer on new purchases while their coverage needs are being evaluated.
It is in House of Showfields, a bazaar-style retail space in the borough’s Williamsburg neighborhood.
From consumer trends to retail technology, these are the JCK Talks sessions that should be on attendees’ radar.
Signature pieces from Cartier and David Webb will appear in the June jewelry auction.
They will be celebrated at the annual dinner dance and gala in the fall.
Gemologists have long used machines in diamond grading but technology has made it possible for them to “learn” how to do it on their own.
Supplier Spotlight Sponsored by IGI
Watch retailers Jeffery Bolling and Bobby Bengivengo discuss employee training, customer education and the sticky subject of future value.
The company has plans to revamp the Movado brand and offer less expensive watches this year.
Set with a 118-carat unheated Sri Lankan sapphire, it just sold for $3.4 million at Phillips jewelry auction in Hong Kong.
Sponsored by Noam Carver
As cybercrime incidents threaten the industry, jewelers need to know what they’re up against and the best ways to protect their businesses.
The Pittsburgh jeweler is redoing the lighting and showcases, and adding a full hospitality bar as well as new shop-in-shops.
The Yurman Family Crystalline Pass is inside the museum’s brand-new Richard Gilder Center.