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Consumers to Spend $4.2B on Jewelry This Mother’s Day
The National Retail Federation’s recent survey shows that more than one-third of shoppers will give jewelry as a gift for mom this year, spending an average of $96.
Consumers will spend, on average, almost $96 on jewelry gifts for Mother’s Day this year, according to a recent National Retail Federation survey. These “Love Letters” pendants from jewelry designer Judi Powers retail for $100 in sterling silver, and $395 in 14-karat gold.
Washington--According to a recent survey from the National Retail Federation, 35 percent of shoppers plan on giving jewelry as a gift this Mother’s Day. They are expected to spend an average of $96, down slightly from the $103 consumers said they were going to spend last year.
Total spending on jewelry for Mother’s Day is expected to hit $4.2 billion this year, which also is down from last year’s prediction, $4.32 billion.
All told, U.S. consumers are expected to spend $21.4 billion on gifts for mom across all categories this year. Individually, they will spend an average of $172.22, down slightly from last year’s record high of $172.63.
In addition to jewelry, shoppers indicated they would spend on flowers (67 percent), “special outings” like dinner or brunch (55 percent), gift cards (43 percent), clothing (35 percent), electronics (14 percent) and personal services like a day at the spa (23 percent).
For the first time, NRF also asked consumers about experiential gifts like tickets to a concert or sporting event. According to the survey, 24 percent want to receive a gift like this while 22 percent plan to give it.
When asked where they will shop, one out of three consumers indicated they will head to department stores and 29 percent will shop at specialty stores, while 23 percent plans to shop at a local small business.
Outside of brick-and-mortar, 27 percent will shop online, up from 25 percent last year. Thirty percent will research gift ideas on their phones while 16 percent will use them to actually make a purchase.
“It’s clear that Americans want to honor their mothers this Mother’s Day,” NRF President and CEO Matthew Shay said. “Whether it’s a special meal at her favorite restaurant, jewelry or a new smartphone, families are planning to indulge mom again this year.”
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