This year’s Mother’s Day is poised to witness near-record spending, with consumers in the United States projected to spend approximately $33.5 billion, according to data from the National Retail Federation (NRF) and Prosper Insights & Analytics. This anticipated expenditure ranks as the second highest recorded, slightly trailing behind last year’s peak of $35.7 billion.
An estimated 84% of U.S. adults are expected to participate in the celebrations, with an average outlay of $254.04 per person on gifts and related festivities. Notably, the demographic of 35 to 44-year-olds is predicted to be the most generous, budgeting around $345.75 for the occasion.
“Mother’s Day is a time to celebrate the women who play a meaningful role in our lives,” NRF President and CEO Matthew Shay stated. “Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation.”
Jewelry Spending Insights
Of the total expenditure forecasted for Mother’s Day, a significant $7 billion is allocated specifically for jewelry. This spending habit underscores the importance of the holiday as a pivotal sales opportunity for jewelers.
The data suggest a robust consumer interest in purchasing valuable and sentimental items to mark the occasion, highlighting the enduring appeal of jewelry as a preferred gift choice.
Consistent with previous years, the most commonly purchased gifts are flowers and greeting cards, each chosen by 74% of consumers. Dining out remains popular, with 59% of consumers planning to treat their loved ones to a special meal. A significant number of shoppers (48%) are looking for gifts that are unique or different, and 43% are focused on gifts that create special memories.
Shopping Patterns
The most popular shopping destination remains online, with 35% of purchases expected to be made through digital platforms. Department stores are also a popular choice at 32%, followed by specialty stores at 29%, and local or small businesses at 25%. This varied approach to shopping locations offers multiple opportunities for jewelers to connect with customers through different channels.
“Even though consumers continue to gravitate toward classic Mother’s Day gifts like flowers and greeting cards, almost one-third plan to give a gift of experience this year,” Prosper Executive Vice President of Strategy Phil Rist stated. “Consumers also plan to spend more on special outings than they have in the past.”
