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Jewelry Spending to Boost Mother’s Day Sales
Apr 29, 2019 4:28 AM
By Rapaport News
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RAPAPORT... US consumers are expected to spend 13% more on jewelry this
Mother’s Day, according to the National Retail Federation (NRF).
Americans will shell out $5.2 billion on the category this year,
compared with $4.6 billion in 2018, the trade organization reported last week in its annual survey. The dollar increase for jewelry sales represents 31% of the total expected growth in
Mother’s Day sales over last year. Overall spending for Mother’s Day, which falls on May 12, is
predicted to increase 8% to a record $25 billion.
“Mother’s Day spending has been growing consistently over
the past several years, and this year’s spending is expected to be the highest
in the 16-year history of our survey,” said NRF CEO Matthew Shay.
Although the number of people celebrating Mother’s Day is on
par with last year, those consumers are expected to spend an average of $196
per purchase, compared with $180 last year, the NRF explained.
Total spending on special outings such as dinner or brunch
will come to $4.6 billion, the NRF estimated. Expenditure on flowers and gift
cards will each amount to $2.6 billion, with $2.3 billion to be spent on
clothing.
The survey found 44% of those planning to buy gifts felt choosing
something unique was the most important factor. Some 39% cited gifts that
created a special memory as their number-one consideration when shopping
for their mothers.
Consumers between 35 and 44 are likely to
spend the most, at an average of $248, compared with $224 in 2018. Men will lay out approximately $237 per gift, while women will spend about $158.
Image: A daughter giving a gift to her mother. (Shutterstock)
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Tags:
Matthew Shay, Mother’s Day, National Retail Federation, NRF, Rapaport News
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