Consumers are seeking practical items this Mother’s Day, which means they will likely spend less on jewelry, the National Retail Federation reported in its annual Mother’s Day Spending Survey.
The group predicts shoppers will spend $3.65 billion on jewelry this year—down from last year’s $4.23 billion. They also plan to spend an average of $94.38 on jewelry—which is also a drop from 2013’s reported average of $100.55. Both numbers are also lower than the numbers reported for 2012—which found shoppers wanting to spend an average of $97.19 on jewelry, for $3.69 billion total.
In general, the survey found shoppers more likely to shower Mom with items like gift cards, brunch, and apparel.
“Americans haven’t forgotten about the state of the economy and are treating their finances and gift-giving budgets in a way that keeps practicality in the top of their minds,” said Pam Goodfellow, consumer insights director at Prosper Insights & Analytics, which conducted the survey, in a statement.
The survey also predicted Mother’s Day spending overall will fall, with shoppers lavishing $162.94 on their mamas this year, down from last year’s $168.94.Follow JCK on Instagram: @jckmagazine
Follow JCK on Twitter: @jckmagazine
Follow JCK on Facebook: @jckmagazine