Consumers expected to spend $33.5 Billion on Mother’s Day

Mother’s Day spending is expected to reach $33.5 billion this year, according to the annual consumer journey released today by the National Retail Federation and Prosper Insights & Analytics. The figure is the second highest in the history of the survey, following last year’s record $35.7 billion.

Figures and numbers

Eighty-four percent of U.S. adults are expected to celebrate the holiday. On average, those celebrating plan to spend $254.04 on Mother’s Day gifts and celebrations, the second highest per-person figure, following last year’s record $274.02 per person. The biggest spenders are expected to be those between the ages of 35 and 44, who are budgeting $345.75

As with previous years, the most popular gifts to give are flowers (74%), greeting cards (74%) and special outings such as dinner or brunch (59%).

“Even though consumers continue to gravitate toward classic Mother’s Day gifts like flowers and greeting cards, almost one-third plan to give a gift of experience this year,” Prosper Executive Vice President of Strategy Phil Rist said. “Consumers also plan to spend more on special outings than they have in the past.” 

Source: www.nrf.com