Americans will be spending more than $4.2 billion on jewelry gifts for their moms this Mother's Day, according to survey results just released by the National Retail Federation. That dollar amount places "jewelry" at the top of all gift categories — a place it has occupied for four of the past five years.
The survey revealed that 35.4% of adults have jewelry on their Mother's Day shopping lists this year, up from 34.2% in 2015 and 31.7% in 2014. Nearly four in 10 men (39.2%) plan to purchase a jewelry item for the special moms in their world, while 31.7% of woman plan to do the same.
The average cost of a Mother's Day jewelry gift will be $95.71, with men expecting to spend $117.79 and women $69.82.
Total Mother's Day gift spending is expected to reach $21.4 billion in 2016, up slightly from $21.2 billion in 2015. Overall, men will spend $197.77 on Mother's Day gifts this year, while women will spend $147.99.
While jewelry remains to top category in terms of dollars spent, other strong categories include "special outings" ($4.1 billion), flowers ($2.4 billion), gift cards ($2.2 billion), consumer electronics ($1.9 billion), apparel ($1.9 billion) and personal services, such as spa treatments ($1.6 billion).
Mother’s Day greeting cards are still a gifting staple, with 78% of consumers reporting that they will buy a card for their moms. Total spending on cards will reach $792 million in 2016, according to the NRF.
The biggest spenders this Mother’s Day are expected to be 25- to 34-year-olds ($248.88). Their 18- to 24-year-old counterparts plan to spend an average of $188.87.
Mother's Day continues to draw wide interest and participation across all demographic groups. Overall, 84.4% of adults surveyed said they would be celebrating Mother's Day in 2016. That participation rate grows to about 95% for adults 18 to 34.
“Mother’s Day is the time when millions of Americans find special ways to express their love and gratitude for Mom,” said analyst Pam Goodfellow of Prosper Insights & Analytics, which conducted the survey of 7,000 consumers for the NRF. “While many will spend a little more than usual to pamper her, some consumers will provide unique experience gifts for the entire family to enjoy together.”
Don't forget: Mother's Day is this Sunday, May 8!