Mother's Day spending for jewelry items is expected to reach $5.2 billion in 2019, making it the fastest growing and highest volume gift-giving category, according to an annual survey released by the National Retail Federation (NRF). The jewelry spending number is up from $4.6 billion in 2018, an increase of 13%. And why not? Our moms (and grand-moms and wives) deserve to be spoiled 365 days a year! And especially on Mother's Day...
Overall Mother's Day spending in 2019 is predicted to hit a record $25 billion, up from $23.1 billion in 2018. More than 31% of that annual increase is reflected in the strength of the jewelry category, where purchases are slated to jump by $600 million. Mother’s Day 2017 was the previous record holder at $23.6 billion in total purchases.
At Family & Co. Jewelers, the designer Charles Krypell is especially popular for Mother's Day. We carry his sterling silver collection; many pieces are highlighted with 18 karat rose or yellow gold as well as diamonds or colored gemstones.
Exactly 35% of respondents said they will be buying jewelry for their moms this year.
“Mother’s Day spending has been growing consistently over the past several years," said NRF President and CEO Matthew Shay, "and this year’s spending is expected to be the highest in the 16-year history of our survey.”
While the portion of people celebrating Mother's Day with a gift in 2019 is in line with last year's 86%, this year's gift-givers will be spending more.
The average Mother's Day outlay is expected to be a record $196, up from $180 in 2018. Consumers ages 35 to 44 are likely to spend the most ($248, up from $224), and men are likely to spend more than women ($237 compared with $158).
According to NRF’s Mother’s Day survey, $4.6 billion will be spent on special outings, such as dinner or brunch. More than half (55%) of consumers said treating Mom to a special meal would be their gift of choice.
NRF estimated that $2.6 billion will be spent on flowers (to be gifted by 67%), $2.6 billion on gift cards (45%), $2.3 billion on clothing (38%), $2.2 billion on consumer electronics (15%) and $2 billion on personal services, such as a spa day (24%).
Another $1.1 billion will be spent on housewares or gardening tools (20%), $843 million on greeting cards (75%) and $544 million on books or music CDs (19%).
The survey, which asked 7,321 consumers about their Mother’s Day plans, was conducted by Prosper Insights & Analytics from April 1 to 11 and has a margin of error of plus or minus 1.2 percentage points.
Credit: Image by Bigstockphoto.com.