An annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics shows that 34% of shoppers on Mother’s Day (May 13, 2018) plan to spend their money on jewelry. Americans plan to spend a total of $4.6 billion on jewelry on Mother’s Day.
All in all, Mother’s Day spending is expected to total a near-record $23.1 billion in 2018 – second only to last year’s $23.6 billion, which was the highest in the 15-year history of the survey. According to NRF President and CEO Matthew Shay, “This year’s Mother’s Day forecast is one of the strongest we’ve ever seen”.
Average per person spending is expected to total $186. People aged 35-44 will be the biggest spenders this year at an average $224. 62% of 18-24 year-olds will most likely use smartphones to research their purchases and compare prices. 35% of consumers will shop at department stores, 31% will shop online, and 29% plan to shop at specialty stores such as florists, jewelers or electronics stores.
