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Mother’s Day Jewelry Spending Set to Increase, Says NRF
Shoppers are expected to spend $5.2 billion on jewelry this Mother’s Day, according to a recent survey.
The NRF said 8 in 10 shoppers are looking to retailers to guide them on what to buy. Pictured here is a sterling silver layered heart necklace ($100) from Pandora’s Mother’s Day Collection.
Washington, D.C.—Mother’s Day is swiftly approaching, with spending expected to reach a 16-year high of $25 billion this year, according to the annual survey released by the National Retail Federation.
Prosper Insights & Analytics conducted the survey of more than 7,000 people between April 1 and 11.
Its results show that about 84 percent of U.S. adults are expected to celebrate Mother’s Day this year, spending an average of $196 compared with $180 last year.
Consumers between the ages of 35 and 44 will spend the most—around $248, compared with $224 a year ago. Men will spend around $237 while women are expected to spend $158.
An increasing number of gift-givers are opting for gifts cards (45 percent) and special outings (55 percent) as well as more traditional options like flowers (67 percent) and cards (75 percent).
Around 35 percent of shoppers will opt for jewelry, amounting to $5.2 billion, or $40.87 per person, in expected total spending. This is compared with 34 percent of shoppers spending $4.6 billion a year ago.
An increase in spending on jewelry accounted for 31 percent of the expected increase over last year, according to the NRF survey.
Around 8 in 10 shoppers are looking to retailers to guide them on what to buy, according to the survey.
Tiffany & Co., Pandora, Bulgari, Jared and Kay Jewelers all have sections on their sites dedicated to Mother’s Day, offering up options in a variety of price ranges.
“Consumers today want to make sure they’re gifting mom something that will make her feel loved. And they’ll use all the inspiration and guidance they can get in finding that perfect gift,” Prosper Vice President of Strategy Phil Rist said.
When deciding on a gift to honor the special moms in their lives, 44 percent of those surveyed said uniqueness is the most important factor while 39 percent said creating a special memory was most important.
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