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RAPAPORT... The National Retail Federation (NRF) and Prosper Insights & Analytics determined that U.S. consumers will celebrate Mother’s Day by staying practical in their spending patterns. Overall, 84.5 percent of U.S. adults plan to celebrate Mother's Day and expect to spend an average of $162.94 on gifts this year, down from $168.94 one year ago, according to the survey results. “As one of the most universally celebrated holidays, retailers will take this opportunity to attract Mother’s Day shoppers with promotions on ladies apparel items, health and beauty products, jewelry and even restaurant options,” said NRF's president, Matthew Shay. “Now fully into spring, retailers are hoping consumer sentiment and spending intentions continue to grow as we round out one of the busiest retail seasons of the year and prepare for summer.”  Roughly 31.7 percent of consumers who celebrate Mother's Day intend to purchase jewelry as a gift this year, which is down 2.7 percentage points from 2013, according to the survey. This segment of the consumer population anticipates spending $94.38 on jewelry gifts, on average, which is down from $100.55 one year ago. The NRF predicted that total jewelry spending for the occasion will amount to $3.65 billion, down from $4.23 billion in May 2013. The survey revealed that men who expect to purchase jewelry for Mother's Day will spend $113.26 on average, while female shoppers planned to spend $68.62. By age group, the NRF found that 35 to 44 year olds expect to spend the most on jewelry with an average amount per buyer of $122.67. Prosper’s consumer insights director, Pam Goodfellow, said, “Americans haven’t forgotten about the state of the economy and are treating their finances and gift-giving budgets in a way that keeps practicality top of mind. But like we saw with Valentine’s Day and Easter, people this year will look for special ways to treat mom to something nice without breaking the bank, knowing it’s the thought that counts.” The NRF expects that 33.5 percent of shoppers will visit specialty stores for gift buying, such as jewelers and florists, while 32.4 percent will shop at department stores, 24 percent will shop in discount stores and 29 percent will make their purchases online.
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