NRF Predicts $4.2 Billion Spend on Jewelery for Mother’s Day

(IDEX Online News) – The National Retail Federation’s (NRF) annual survey has predicted that US consumers will spend approximately $4.2 billion on jewelry on Mother’s Day.

In the survey conducted by Prosper Insights and Analytics, 84.4-percent of respondents said that they would celebrate the day, estimating that total overall spend on Mother’s Day will reach $21.4 billion. It also showed that average spend would likely fall slightly to $172.22 compared to last year’s record high of $172.63.

Consumers were also asked for the first time about “gifts of experience” such as tickets to concerts or sporting events.  According to the survey, 24.2 percent want to receive such a gift and 22.3 percent plan to give it.

“It’s clear that Americans want to honor their mothers this Mother’s Day,” said NRF president and CEO Matthew Shay. “Whether it’s a special meal at her favourite restaurant, jewelry or a new smartphone, families are planning to indulge mom again this year.”