Mother’s Day Jewelry Sales Expected at $3 Billion
April 28, 11
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According to NRF’s 2011 Mother’s Day Consumer Intentions and Actions 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 by adults age 18 and older is expected to reach $16.3 billion.
“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 NRF President and CEO Matthew Shay.
According to the survey the number of people who plan on buying electronics (13.3%) will rise 48 percent from last year – and they’re spending more, too. Those buying electronics will shell out $94.91 on smartphones, cameras and even tablet devices, up eight percent from $87.70 last year.
When it comes to where people will shop, the survey found nearly one-third (32%) of gift buyers will shop at a department store, the most in the survey’s history. Others will shop at discounters (29.6%), specialty stores including jewelers, florists and electronics stores (31.8%), online (21.5%) or at a specialty clothing store (7.1%).
Of the 83.1 percent celebrating Mother’s Day this year, most will shop for their mom (59.9%), while others will buy gifts for their wife (19.6%), daughter (9.6%), grandmother (8.0%), sister (8.4%), friend (7.3%) or godmother (1.8%).
“As we’ve seen throughout the year, Americans will find ways to save money while at the same time splurging on the perfect gift for all the moms in their lives,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch.
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. Additionally, 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).