US jewelers to benefit from expected record Mother’s Day spend, data suggests
New data released by the NRF and Prosper Insights Analytics predicts that the US economy is about to benefit from Mother’s Day splurge of $38 billion.
It also suggests that US jewelers could be at the front of the queue for the holiday. The jewelry category, which also incorporates watches, leads the spend at $7.5 billion.
Delving deeper, looking at the percentage of surveyed customers who plan on spending in a particular segment, the jewelry category is predicted to see an increase from a total of 42% of people planning to make a purchase, to 45%.
The total amount for the holiday surpasses last year’s total spending of $34.1 billion and exceeds the previous record of $35.7 billion set in 2023.
Commenting on the data, the NRF’s chief economist and executive director of research, Mark Mathews, said. “Mother’s Day remains a priority for many Americans, and they plan to lean into the holiday despite current economic uncertainty.”
Adding: “Consumers are gifting from the heart, seeking unique gifts that create lasting memories for the mothers in their lives. It’s an opportunity to recognize what this person means to you, and retailers are ready to make Mother’s Day extra special for shoppers.”
Consistent with recent years, 84% of U.S. adults plan to celebrate Mother’s Day.
On a per-person basis, consumers plan to spend a record average of $284.25 on gifts, up from $259.04 last year and the previous record of $274.02 in 2023.
Of those celebrating, 54% plan to purchase for their mother or stepmother, followed by for a wife (22%) or a daughter (13%).
The leading shopping destinations for gifts this year include online (33%) and department stores (33%), followed by specialty stores (29%) and discount stores (26%).
As with previous years, flowers remain the most popular gift category, with 75% of shoppers planning to purchase while jewelry leads the actual spend total, followed by special outings ($6.4 billion) and electronics ($4.4 billion). Spending on flowers is projected to reach $3.2 billion, while greeting cards are expected to total $1.3 billion.
The NRF disclosed that the survey of 7,877 U.S. adult consumers was conducted April 1 – April 8 and has a margin of error of plus or minus 1.1 percentage points.
