It is learned that according to the latest research of the National Retail Federation (NRF), Americans' Mother's Day shopping spending in 2023 will reach 35.7 billion US dollars, nearly 4 billion US dollars more than 31.7 billion US dollars in 2022. The per capita shopping expenditure will reach 274.02 US dollars, an increase of 28.26 US dollars from 245.76 US dollars in 2022.
NRF surveyed 8,164 consumers in April 2023 and found that consumers aged 35 to 44 are expected to be the largest spending group, with an average of $382.26 per person. In terms of the most popular categories, jewelry will be the highest spending category. Online channels and department stores are tied as the preferred shopping destinations.
Online shopping is still one of the most popular shopping channels, but the number of people has declined
The NRF survey showed that among respondents, only 34% said they would buy gifts online, which is lower than 36% in 2022 and similar to the level in 2021. In 2020, at the peak of the epidemic, this proportion reached an all-time high of 42%.
At the same time, 34% of consumers plan to shop in department stores, an increase from 30% in 2022 and 28% in 2021.
Another 30% of survey respondents said they would buy gifts from specialty stores, such as greeting card shops, florists or jewelry stores. Respondents also mentioned local small businesses (24%), discount stores (23%) and specialty clothing stores (13%). The most popular categories are announced, and traditional gifts are still popular
According to all categories tracked by NRF, including flowers, clothing and gift cards, all categories of gifts except greeting cards increased from 2022. The survey shows that most consumers plan to buy traditional Mother's Day gifts, with flowers and greeting cards being the most popular gifts. According to DigitalCommerce360, online retailers in the floral category are particularly popular in the category, with a penetration rate of 87.6%. Among the Top 1000 Retailers, floral retailers have a three-year compound annual growth rate of 22.2%, higher than the overall Top 1000’s compound annual growth rate of 20.7%.
In other categories, American consumers spend the most on jewelry, which is expected to reach $7.8 billion. 44% of consumers plan to give jewelry as gifts, with an average expenditure of $59.90 per household.
According to DigitalCommerce360, jewelry retailers have an above-average compound annual growth rate (CAGR) of 23.6%. Well-known retailer Daniel's Jewelers once revealed that Mother's Day accounts for 25% of its sales.
According to data tracked by NRF, electronics are the most common gift category in 2023, with 25% of consumers planning to give electronics. This is an increase from 22% in 2022 and 20% in 2021. Electronics are the third-highest spending category, with an expected per capita spending of $30.69 and a total of $4 billion.
Editor✎ Ashley/ Disclaimer: This article is copyrighted and may not be reproduced without permission. |
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