This Mother’s Day is expected to deliver the highest consumer spending ever, according to the National Retail Federation (NRF), hitting a new record of $25 billion, up from $23.1 billion spent last year.
How Many Consumers Will Be Spending This Mother’s Day?
84% of Americans are expected to participate in Mother’s Day spending this year, which nearly mirrors last year’s percentage of 86%.
How Much Are Consumers Spending?
The average consumer is expected to spend $196.47 this Mother’s Day, up from $123.89 a decade ago. On the higher side of the increased spending trend, consumers between 35 and 44 years of age are likely to spend an average of $248 this year.
What Do Consumers Look For When Shopping For Mother’s Day?
Most consumers look for unique gifts when shopping for Mother’s Day, according to the NRF. Gifts that create special memories are also desirable by many Mother’s Day shoppers.
What Are Consumers Buying?
75% of consumers are planning to buy greeting cards while only 15% are planning to buy consumer electronics. See the chart below to learn what consumers are planning to buy for their mother figures this holiday.
NRF President and CEO Matthew Shay said, “Mother's Day spending has been growing consistently over the past several years, and this year's spending is expected to be the highest in the 16-year history of our survey. Consumers are excited to celebrate all the moms in their lives.”