Jewellery retailers set for record Mother’s Day spending

LONDON, UNITED KINGDOM - SEPTEMBER 10:  In this photo illustration, sample Polymer five and ten pound British banknotes are held during a news conference at the Bank of England on September 10, 2013 in London, England.  Bank of England Deputy Governor Charlie Bean, said: "Polymer banknotes are cleaner, more secure and more durable than paper notes. However, the Bank of England would print notes on polymer only if we were persuaded that the public would continue to have confidence in, and be comfortable with our notes. (Photo Illustration by Chris Ratcliffe-Pool/Getty Images)

Jewellery retailers around the country are expecting a record level of spending for Mother’s Day in the run up to Sunday.

It is anticipated that £79m will be spent with retailers this weekend as gift items like jewellery see a spike in interest.

According to data from Halifax, card spend over the Mother’s Day weekend has grown from £70 million in 2014 to £72 million in 2015, before reaching £76 million in 2016. This represents an average rate of annual growth of 4.2%.

Story continues below
Advertisement

Spending on Mothers’ Day itself has grown more quickly than spending over the whole weekend, suggesting many consumers treat mothers to an experiential purchase, or leave the gift-buying to the last minute. Total spend on Mothering Sunday reached £19 million last year, up 6% on an annual basis.

Jon Roberts, director of cards at Halifax, commented: “Our data suggests we’re a generous nation, treating our mums a little more every year. Certainly in financial terms, Mothers’ Day is a growing feature of the calendar. Not only are we spending more in the days leading up to Mothering Sunday, but we’re spoiling mums on the day itself too, making sure they know they’re loved and appreciated.”

Image credit: Chris Ratcliffe-Pool/Getty Images

Authors

One Comment;

*

Related posts

Top