Mother's Day

NRF: Mother’s Day Spending to Reach $23.1 Billion

In What's New, Industry News by Lauren Parker, Accessories Magazine

Mother's Day

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Mother’s Day spending is expected to total a near-record $23.1 billion this year, according to the annual survey by the National Retail Federation and Prosper Insights & Analytics. A total 86% of Americans will celebrate Mother’s Day and spend an average of $180 per person.

“This year’s Mother’s Day forecast is one of the strongest we’ve ever seen,” NRF President and CEO Matthew Shay said. “With spring in full bloom, Americans are looking forward to splurging on their mothers and retailers are prepared to offer a variety of options that will allow consumers to find the perfect gift for the occasion.”

Average spend is $180 per person

The expected spending would be second only to last year’s $23.6 billion, the highest in the 15-year history of the survey at an average $186 per person.

According to the survey, consumers plan to spend $4.6 billion on jewelry (purchased by 34%  of shoppers), $4.4 billion on special outings such as dinner or brunch (55%) and $2.6 billion on flowers (69%). In addition, $2.5 billion will be spent on gift cards (45%), $2.1 billion on clothing (36%), $2.1 billion on consumer electronics (14%) and $1.8 billion on personal services such as a spa day (24%). Another $956 million will be spent on housewares or gardening tools (19%), $813 million on greeting cards (77%) and $494 million on books or music (19%).

The survey found 29% want to receive a “gift of experience” such as a spa day, tickets to a concert or gym membership while 26% plan to give such a gift. Gifts of experience are given most often — 45% of those surveyed — by 18 to 34-year olds.

“Mother’s Day continues to be a holiday close to the heart of many Americans and this year is no different,” Prosper Insights Executive Vice President of Strategy Phil Rist said. “Those between 35 and 44 years old are planning to spend the most this season, while younger consumers are the most likely to put their online shopping skills to good use to find inspiration for the perfect gift for mom.”

Individuals ages 35-44 will be the biggest spenders this year at an average $224. However, those between 18-24 will most likely use smartphones to research their purchases and compare prices at 62 percent.

When searching for gifts, 35% of consumers will head to department stores and 31%  will shop online, while 29% plan to shop at specialty stores such as florists, jewelers or electronics stores. Meanwhile, 23% plan to shop at a local small business, 22% at discount stores and 10 percent at specialty clothing stores.

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