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MOTHER’S DAY TO OFFER A NEXT BIG JEWELRY OPPORTUNITY,
AS SPENDING FORECAST TO REACH RECORD HIGH

 

Mother’s Day, which is scheduled to be celebrated in the United States on May 8, is being widely forecast as the next major jewelry gift-giving opportunity. According to the annual consumer survey conducted by the country’s National Retail Federation and Prosper Insights & Analytics, total spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending.

Approximately 84 percent of U.S. adults are expected to celebrate Mother’s Day.

Internationally, there is no agreed-to date for Mother’s Day, although it is celebrated in a great many countries, most commonly in the months of March or May. The second Sunday of May is the most popular, however, where in addition to the United States, it is celebrated in a range of major jewelry-purchasing countries, among them Australia, India, Italy, Japan, China, Germany, France and Switzerland.

The United Kingdom is one of those to celebrate earlier, on the fourth Sunday of Lent – or Mothering Sunday, which this year was on March 27 

41 PERCENT WILL CHOOSE JEWELRY

But it is undoubtedly in the United States where Mother’s Day is most celebrated, at the least in the commercial sense of the word.

“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” said NRF President and CEO Matthew Shay.

This year, American consumers are planning to spend $25 more this year on Mother’s Day purchases and are expected to spend a record average of $245.76.

Jewelry purchases and special outings such as dinner or brunch are driving this year’s spending increases, marking a record in the survey’s history for average spending in both categories.

“Jewelry remains a timeless gift selection for Mother’s Day and continues to capture an increasing market share,” said Prosper Vice President of Strategy Phil Rist.

“Forty-one percent of consumers are planning to gift jewelry this year, up from 34 percent in 2021 and total spending on jewelry is expected to reach $7.0 billion,” Rist stated.

RELAXATION OF COVID RESTRICTIONS

According to the NRF-Prosper survey, there is also a notable uptick in the number of shoppers seeking gifts that cannot be wrapped. Gifts of experience like concert or sporting event tickets will be given by 27 percent of Mother’s Day shoppers, up from 23 percent last year and the highest since NRF started tracking this category in 2016. This may be even pronounced this year, after a prolonged period of social distancing because of the COVID pandemic.

 

Some 57 percent of consumers said that theyare planning to spend an average of $40.90 on a special outing like dinner or brunch, signaling continued post-pandemic prioritization of quality time with loved ones.

Greeting cards and flowers continue to be staple gift categories with 75 percent of shoppers planning to buy greeting cards and 72 percent planning to buy traditional Mother’s Day bouquets.

Finding meaningful Mother’s Day gifts remains a top priority for shoppers. The topmost important factors are finding a gift that is unique or different, with 46 percent stating that this is the case, and 41 percent saying that want to finding a gift that creates a special.

Significantly, some 36 percent of consumersare planning to make their purchases for the holiday online. Another 30 percent of consumers are planning to shop at department stores, 27 percent at specialty stores and 23 percent at local small businesses.

The survey of 8,574 consumers was conducted April 1-11, 2022, and has a margin of error of plus or minus 1.1 percentage points.

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