NRF: Mother’s Day spending estimated to reach $33.5 billion

By: Trademagazin editor Date: 2024. 04. 30. 09:38

According to new survey data from the National Retail Federation (NRF) and Prosper insights & Analytics, consumers are expected to spend $33.5 billion on the holiday, which falls on May 12 this year. The figure is the second highest in the history of the survey, following last year’s record $35.7 billion.

The vast majority (84%) of U.S. adults are expected to celebrate Mother’s Day, and those who are plan to spend an average of $254 on gifts and celebrations. This per-person figure is also the second-highest in the history of the survey, 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 on average for the holiday. Most (59%) of those celebrating the holiday are shopping specifically for a mother or stepmother, followed by a wife (22%) or daughter (12%).

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%). NRF says that consumers will spend a total of $7 billion on jewelry, $5.9 billion on special outings and $3.5 billion on electronics. Additionally, the survey total spending on flowers is expected to reach $3.2 billion, while total spending on greeting cards is expected to reach $1.1 billion this year.

This year, online (35%) remains the most popular shopping destination, followed by department stores (32%), specialty stores (29%) and local or small businesses (25%). More consumers say they will focus on finding items that are unique or different (48%) or create a special memory (43%) than in previous years.

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