Mother’s Day spending will reach a new peak this year, says the NRF in a new forecast. And it’s not due to more celebrants: instead, the 85% of adults planning to celebrate this year will spend an average of $186 on the holiday, up from $172 last year and boosting total spending to a projected $23.6 billion. That would approximate a double-digit (10%) rise from last year’s predicted total.
The gifts that will contribute most to that total, based on the NRF survey, are:
- Jewelry – $5 billion total (up from $4.2 last year), with 36% of shoppers buying;
- Special outings such as dinner or brunch – $4.2 billion total (up from $4.1), with 56% planning;
- Flowers – $2.6 billion total (up from 2.4), with 69% expecting to purchase; and
- Gift cards – $2.5 billion total (up from 2.2), planned by 45%.
Of note, older Millennials (25-34) will shell out the most for Mother’s Day this year.
Shoppers are most likely to be visiting department stores (35%) for gifts, with many also planning to visit specialty stores (31%) and make purchases online (30%).
About the Data: The results are based on a survey conducted April 4-11 among 7,406 US adults.