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Jewelry Expected to Top Mother’s Day Spending with $7 Billion Forecast May 01, 2024 (0 comments)
Washington, WA--This year, Mother’s Day spending is projected to hit $33.5 billion, according to a survey from the National Retail Federation (NRF) and Prosper Insights & Analytics. This estimate ranks the second-highest total ever recorded, slightly below last year’s $35.7 billion.
[Image via NRF]
According to the survey, 84% of U.S. adults plan to celebrate Mother’s Day, with an average expenditure of $254.04 per person on gifts and activities. Individuals between 35 and 44 are expected to spend the most, averaging $345.75.
The survey reveals that flowers and greeting cards remain the most popular gifts, chosen by 74% of participants. They are followed by special outings such as dinners or brunches, selected by 59%.
Jewelry spending is anticipated to total $7 billion. Additionally, consumers will allocate $5.9 billion for special outings and $3.5 billion for electronics. Spending on flowers and greeting cards will reach $3.2 billion and $1.1 billion, respectively.
35% of consumers prefer online shopping, but department stores (32%), specialty stores (29%), and local or small businesses (25%) are also popular.
The survey, conducted from April 1 to 8, included responses from 8,213 U.S. adults and has a margin of error of plus or minus 1.1 percentage points.
Learn more in this report by NRF.