Mother’s Day total jewellery spend estimated at $4.2 billion: NRF

According to National Retail Federation’s annual survey conducted by Prosper Insights and Analytics, US consumers are estimated to spend a total of $21.4 billion with 84.4 percent of consumers surveyed celebrating the holiday. Consumers plan to spend $4.2 billion on jewelry (given by 35.3 percent of shoppers).

The survey overall predicts the consumers to be enthusiastic in spending on Mother’s Day although the average of spend of $172.22 is pegged this year a bit lower than last year’s record-high $172.63. “It’s clear that Americans want to honor their mothers this Mother’s Day,” NRF President and CEO Matthew Shay said. “Whether it’s a special meal at her favorite restaurant, jewelry or a new smartphone, families are planning to indulge mom again this year.”

Consumers are looking at spending on $2.2 billion on gift cards, $1.9 billion on clothing and consumer electronics and $1.6 billion on personal services , and other gifts like special outings, flowers, greeting cards.

The survey noted that 33 percent of consumers will choose department stores to purchase, 28.7 percent will shop at specialty stores, and 23.1 percent will shop at a local small business. The online space will see 27.3 percent logged into it, 29.6 percent will research gift ideas on their smartphones while 15.5 percent will use them to make a purchase.

Prosper Principal Analyst Pam Goodfellow said. “While many will spend a little more than usual to pamper her, some consumers will provide unique experience gifts for the entire family to enjoy together.”