US Consumers to Buy $7bn of Mother's Day Jewelry
May 01, 24
(IDEX Online) - Spending on jewelry for Mother's Day in the US is set to hit $7bn this year, accounting for around a fifth of all gifts, by value.
That's down around 11 per cent on a record high of $7.8bn in 2023, according to the newly-released annual consumer survey by the National Retail Federation (NRF) and Prosper Insights & Analytics.
Eighty-four per cent of US adults are expected to celebrate the holiday, on 12 May, with an average $254 spend.
The biggest spenders are those aged 35 and 44, who are expected to splash out $346.
"Mother's Day is a time to celebrate the women who play a meaningful role in our lives," said Matthew Shay, NRF President and CEO.
"Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation."
Total US consumer spending on Mother's Day is forecast at $33.5bn, down 6 per cent on last year's record $35.7bn.