Mother’s Day Jewelry Spending to Slip Slightly

The amount US consumers will spend on jewelry this Mother’s Day will take a small dip as more shoppers look for unique offerings and gifts of experience, according to a survey by the National Retail Federation (NRF). 

“Gifts that are thoughtful in nature remain a priority for Mother’s Day shoppers,” the federation, which conducted the survey with Prosper Insights and Analytics, said last week. “More say they will focus on finding items that are unique or different or create a special memory than in years past.” 

“Even though consumers continue to gravitate toward classic Mother’s Day gifts…almost one-third plan to give a gift of experience this year,” noted Phil Rist, executive vice president of strategy at Prosper. “Consumers also plan to spend more on special outings than they have in the past.” 

Americans are expected to shell out $33.5 billion on Mother’s Day presents this year, just behind last year’s record predicted figure of $35.7 billion. Consumers are set to spend $7 billion of that on jewelry, 10% less than the $7.8 billion anticipated for that category in 2023. 

On average, the NRF forecast that shoppers would lay out $254 on gifts for the holiday, which falls on May 12. That figure is $20 less than last year, but still the second highest in the NRF’s survey history, the organization said. Those aged 35 to 44 will be the top spenders, expected to fork out an average of $346 on gifts. 

Additionally, special outings, such as dinner or brunch, are popular this year, with consumers looking to spend $5.9 billion on that segment, up from $5.6 billion a year ago. Customers will drop $3.5 billion on electronics, the NRF said. The flowers and greeting-cards categories are slated to attract the largest number of shoppers, each chosen by 74% of respondents. Special outings came in third, at 59%. 

Some 48% of respondents said the most important factor in their choice of gift was purchasing items that were unique or different, while 43% wanted something that would create a special memory. 

More than one-third of consumers intend to shop online, with 32% planning to purchase from a department store, 29% from specialty stores, and 25% at local and small businesses.  

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Main image: Women celebrating Mother’s Day. (Shutterstock)