Mother’s Day Spending Expected To Top $16 Billion
May 8 is Mother’s Day, and Americans plan on celebrating it with $21.4 billion in gifts and outings for their moms. The National Retail Federation’s annual survey reveals that on average, U.S. consumers are expected to spend $172.22, down slightly from last year’s record-high $172.63.
“It’s clear that Americans want to honor their mothers this Mother’s Day,” says NRF President and CEO Matthew Shay. “Whether it’s a special meal at her favorite restaurant, jewelry or a new smartphone, families are planning to indulge Mom again this year.”
The survey of 7,000 consumers found that they plan to spend $4.2 billion on jewelry, $4.1 billion on special outings such as dinner or brunch, $2.4 billion on flowers, $2.2 billion on gift cards, $1.9 billion on clothing and also on consumer electronics, and $1.6 billion on personal services. Greeting cards are the most commonly purchased gift, at 78.4 percent, but account for only $792 million.