Jewellery is set to play a leading role in what is to be a record-breaking Mother’s Day for consumer spending in the United States, according to the latest survey released by the National Retail Federation (NRF).

Despite ongoing economic uncertainty, sentiment remains resilient. Consumers continue to prioritise meaningful gifting, with jewellery emerging as a key category driven by emotional value and lasting significance.

“Mother’s Day remains a priority for many Americans,” noted Mark Mathews, Chief Economist at the NRF. “Consumers are increasingly seeking unique, sentimental gifts that create enduring memories.”

Total spending for the holiday is projected to reach a record US$38 billion, surpassing last year’s US$34.1 billion and exceeding the previous high of US$35.7 billion set in 2023. Within this, jewellery alone is expected to account for US$7.5 billion, representing a 10% increase year-on-year and reinforcing its position as one of the most significant gifting categories.

On an individual level, consumers are forecast to spend an average of US$284, marking a continued upward trend in per-person expenditure.

Beyond jewellery, experiential gifting continues to gain traction, with special outings projected to generate US$6.4 billion in spending. Electronics are expected to reach US$4.4 billion, followed by flowers at US$3.2 billion and greeting cards at US$1.3 billion.

According to Phil Rist of Prosper Insights & Analytics, consumers are not only budgeting more but also diversifying their spending across multiple gift categories.

The survey further highlights that:

• 54% of consumers plan to purchase gifts for their mother or stepmother
• 22% will buy for a spouse
• 13% intend to purchase gifts for daughters

Retail channels remain mixed, with 33% of shoppers favouring online and department stores, while 29% opt for specialty retailers a segment particularly relevant to the jewellery trade and 26% turning to discount outlets.

For the jewellery industry, the data underscores continued strength in consumer demand for pieces that combine emotional resonance with intrinsic value, reinforcing jewellery’s role as both a luxury purchase and a meaningful store of sentiment.

---

Swiss Watch Exports Ease as Key Markets Show Weakness

Swiss watch exports recorded a modest decline in March, reflecting softer demand across several key international markets, according to figures released by the Federation of the Swiss Watch Industry.

Total shipments fell 1% year-on-year to CHF 2.11 billion (US$2.71 billion), following a period of strong growth in February across major markets.

The United States, the largest export destination for Swiss watches, led the downturn with a 1.6% decline to CHF 398.9 million. More pronounced weakness was observed in Asia and Europe, with exports to Japan falling 13% and Germany declining 9%.

While some markets showed resilience exports to the United Kingdom rose 3.2%, and China posted a 4.2% increase these gains were insufficient to offset broader softness. France recorded a sharp 72% increase, although this was largely attributed to re-exports rather than underlying consumer demand.

The Middle East presented a mixed picture. Exports to the United Arab Emirates edged up 0.7%, indicating continued stability, while Saudi Arabia experienced a notable 17% contraction.

From a pricing perspective, the only segment to record growth was watches priced between CHF 200 and CHF 500, which rose 15%. All other categories declined:

• Entry-level watches (below CHF 200): down 0.3%
• Mid-range (CHF 500–CHF 3,000): down 3.7%
• High-end (above CHF 3,000): down 0.5%

Despite the March slowdown, the first quarter as a whole remained positive, with exports increasing 1.4% to CHF 6.2 billion (US$7.95 billion).

The data suggests a market entering a phase of consolidation following periods of strong post-pandemic growth, with demand becoming increasingly uneven across regions and price segments.