Apparently, Mother’s Day is the holiday that keeps on giving and giving and giving.
Americans are digging deep to celebrate the special ladies.
Mother’s Day spending this year is projected to reach $35.7 billion, up nearly $4 billion from record spending of $31.7 billion in 2022, based on the annual survey by the National Retail Federation and Prosper Insights & Analytics. Eighty-four percent of U.S. adults are expected to celebrate the holiday.
Consumers plan to spend $274.02 per person, the highest in the survey’s history and up from the previous record high of $245.76 in 2022. The largest spenders are ages 35-44, expected to spend an average of $382.26 on the special day for mothers.
“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF President and CEO Matthew Shay shared in a statement.
According to a news release, and as seen in prior years, the most popular gifts to give are flowers (74%), greeting cards (74%), and special outings such as dinner or brunch (60%). People will spend a total of $7.8 billion on jewelry, $5.6 billion on special outings, and $4 billion on electronics.
Prosper Executive Vice President of Strategy Phil Rist said, “While most consumers shopped online last year for the perfect Mother’s Day gift, we are seeing just as many people turn to department stores as a shopping destination this year.”
Yet, consumers continue to prioritize thoughtful gifts. Respondents reported that the most important factors in purchasing a Mother’s Day gift include finding unique or different items (47%) or creating a special memory (42%).