Jewelers, Get Ready for Mother’s Day

After the winter holidays, Mother’s Day is the second largest U.S. consumer spending holiday, according to the National Retail Federation. This means that for the jewelry industry, May 9 presents a great opportunity. According to the NRF, this opportunity is worth $2.5 billion in jewelry sales.

Christmas, Hanukah and Kwanza aside, Mother’s Day motivates more American’s to spend more money than any other holiday. NRF’s 2010 Mother’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, found that the average person will shell out $126.90 on Mother’s Day gifts, compared to $123.89 last year. Total spending is expected to reach $14.6 billion.

Nearly two-thirds (65.2%) of celebrants will buy flowers, totaling $1.9 billion. An additional 51.8 percent will treat mom to a brunch or dinner, spending $2.9 billion on mom’s favorite food.

Jewelers will also see some traffic this year with 26.2 percent of people planning on buying a special bracelet or earring set, totaling $2.5 billion.

“Even with slight improvements in the economy, consumers are still looking for unique, sentimental and inexpensive ways to show mom that she is important,” said NRF President and CEO Tracy Mullin.

Marking a noticeable shift in where people will buy Mother’s Day gifts this year, specialty stores such as jewelers or florists will see the most traffic, (33.6%). A short distance behind, 30.6 percent will head to department stores, compared to 27.2 percent last year.

Others will shop at a discount store (30.4%) and online (19.7%).

Of the 83.3 percent of Americans celebrating the holiday this year, most will focus on buying a gift for their mom or step mom (62.6%) or wife (20.6%). Others will treat their daughter (9.4%), grandmother (7.9%), sister (7.6%), friend (6.8%) or godmother (1.7%) to something nice.

Men will spend much more than women on Mother’s Day, shelling out an average of $154.74, compared to women who will spend an average of $100.46. Adults 25-34 years old will spend the most with the average person expected to spend $156.84; young adults will spend only slightly less at $155.52 average per person.