Jewelry will dominate Mother’s Day spending in 2022 with consumers predicted to spend an estimated $31.7 billion on gifts, flowers, and special outings in honor of the woman of the day in each family, according to the National Retail Federation (NRF).
A recent survey conducted for the NRF and Prosper Insights & Analytics said it expects Mother’s Day spending to be up $3.6 billion over last year. It also expects that about 84% of U.S. adults will celebrate the day devoted to moms in some way.
“Jewelry remains a timeless gift selection for Mother’s Day and continues to capture an increasing market share,” Prosper vice president of strategy Phil Rist said in a statement. “Forty-one percent of consumers are planning to gift jewelry this year, up from 34% in 2021, and total spending on jewelry is expected to reach $7 billion.”
On average, consumers will spend a “record” of $245.76 on their moms or mother figures, the survey found. That is $25 more than in previous years, the NRF said. Jewelry purchases and special outings for food, such as brunch or dinner, are also driving these increases, officials said in a statement.
“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” NRF president and CEO Matthew Shay said in a statement.
Shoppers want gifts that are meaningful and different as well. The survey found 46% want a unique gift for their mom or mother figure, and 41% want a gift that creates a special or long-term memory for their moms. Moreover, 36% say they are going to do their Mother’s Day shopping online, while 30% are going to department stores. Another 27% are shopping at specialty stores.
Other gifts that are likely to do well this year are “gifts of experience,” the NRF said. Concert or sporting-event tickets are popular gifts, with 27% of Mother’s Day shoppers giving these items—up from 23% last year and the highest since the NRF started tracking these kinds of gifts about eight years ago, the organization said in its statement.
For jewelers, a big takeaway from the survey might be the idea of hosting a Mother’s Day event beforehand to get people into the store to buy something, especially as jewelry is seen as a meaningful gift for a mom or a mother figure. Jewelers may also want to create special Mother’s Day posts on social media or add them front and center on their websites.
Additionally, having a Mother’s Day event the weekend before Mother’s Day may be a way to give families something to do together either before or after a special meal.
What’s also been interesting to see is that jewelers are sending opt-out emails to consumers who may not celebrate Mother’s Day. That likely is appreciated by people who have recently lost their mothers or may have other concerns about receiving promotions around the day.
Top: Brilliant Earth is among those in the jewelry industry creating special displays of gift-worthy items in honor of Mother’s Day. Among its suggestions is its oval frame locket in 14k yellow gold ($990); photos courtesy of Brilliant Earth.@jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine