Mother’s Day Jewelry Spending to Hit Record High

US consumers are set to spend a record amount on jewelry this Mother’s Day as more shoppers choose the category, according to a survey by the National Retail Federation (NRF).

“Expected spending is up across all gift categories, and gifts of jewelry, electronics and apparel are the primary drivers of growth this year,” the federation, which conducted the survey with Prosper Insights & Analytics, said last week. “Not only are consumers planning to spend more on these gift categories, but more consumers are interested in gifting these items than ever before.”

Americans will shell out $35.7 billion on Mother’s Day gifts this year, $4 billion more than in 2022. Consumers will spend $7.8 billion of that on jewelry, an 11% rise over last year’s $7 billion.

On average, shoppers will lay out $274 on gifts for the holiday, which falls on Sunday, May 14. That figure is $28 more than last year and the highest in the NRF’s survey history, the organization said. Those aged 35 to 44 will be the top spenders, expected to shell out an average of $382 on gifts.

Additionally, special outings, such as dinner or brunch, are popular this year, with consumers looking to spend $5.6 billion on that segment. Customers will drop $4 billion on electronics, the NRF explained. The flowers and greeting cards categories were set to attract the largest number of shoppers, each chosen by 74% of respondents. Special outings came in third, with 60% of the vote.

This year, consumers plan to prioritize thoughtful gifts, the NRF noted. Some 47% of respondents said the most important factors in their choice of gift were items that were unique or different, while 42% wanted something that would create a special memory.

More than one-third of consumers expect to shop online, with 34% planning to purchase from a department store, 30% from specialty stores, and 24% at local and small businesses. Some 23% of those surveyed will buy from a discount store.


BRON: Rapaport 30-4-2023