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Monday, May 2, 2011

Mother’s Day Jewelry Sales Expected to Reach $3 Billion

Jewelry is expected to be the second most popular gift category this year for Mother’s Day, according to the National Retail Federation.

More than 31 percent of persons responding to the NRF’s 2011 Mother’s Day Consumer Intentions and Actions survey said they are planning to buy mom silver, gold or diamonds, a 19 increase from last year. Total spending on jewelry is expected to reach $3 billion.

Total spending for Mother’s Day is also forecasted to rise, according to the survey conducted by BIGresearch. The average person celebrating the holiday is expected to spend $140.73 on gifts, up from $126.90 last year, and a return to 2008 spending levels. Total spending is expected to reach $16.3 billion.

Men will spend an average of $168.84 on the women in their life this Mother’s Day, compared to $114.01 women will spend. Adults 25-34 years old will spend the most ($191.35), followed by 18-24 year olds ($183.38) and 35-44 year olds ($155.97).

“Americans are in a much better position to spend this year and will push the daily stresses of high gas and food costs aside for one day to celebrate the most important women in the world to them,” said Matthew Shay, NRF president and CEO.

Electronics will be the most popular gift this year, with 13.3 percent saying they will purchase a smartphone, camera or tablet device for Mother’s Day, up 48 percent from last year. In addition, those buying electronics will shell out $94.91, up 8 percent from last year.

When it comes to where people will shop, the survey found that 32 percent of gift buyers will shop at a department store, the most in the survey’s history. Others will shop at discounters (29.6 percent), specialty stores including jewelers, florists and electronics stores (31.8 percent), online (21.5 percent) or at a specialty clothing store (7.1 percent).

Of the 83.1 percent celebrating Mother’s Day this year, most will shop for their mom (59.9 percent), followed by their wife (19.6 percent), daughter (9.6 percent), grandmother (8 percent), sister (8.4 percent), friend (7.3 percent) or godmother (1.8 percent).

Restaurants and other businesses will also benefit from the billions of dollars that come in for one of the biggest holidays of the year. Nearly 55 percent of all celebrants will treat mom to a nice dinner or brunch, spending a total of $3.1 billion, according to the survey. Nearly 32 percent of Americans will buy mom clothing or accessories ($1.3 billion total), and 65 percent will buy mom flowers ($1.9 billion). Consumers will also shell out $1.6 billion on gift cards and $1.2 billion on personal services such as a trip to a day spa.

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