Mother’s Day spending estimated to reach record $28.1 billion

by Kim Souza ([email protected]) 529 views 

Consumers flush with cash are expected to push Mother’s Day spending to a record $28.1 billion this year with 83% of consumers telling the National Retail Federation they plan to celebrate the annual holiday held May 9 this year.

Spending is expected to rise 5.44% from the $26.7 billion spent last year and is 12.4% higher than the $25 billion spent on Mother’s Day in 2019. The average Mother’s Day spend is estimated at $220.48 this year, up $16 from the average spend in 2020. The trade group said consumers are pulling out all the stops for mom’s this year with record spending expected in categories like jewelry and electronics.

“There is a lot of consumer optimism around Mother’s Day this year as more people are getting vaccinated and stimulus checks are being distributed,” NRF President and CEO Matthew Shay said. “For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown. With safety guidelines at top of mind, consumers are planning to be with family, are making travel plans and organizing a special brunch or outing. All of these activities will be reflected through their purchasing decisions.”

Diving into the survey’s findings, 59% of the $1.4 billion increased spending this year will go to jewelry purchases for moms and 28% is slated for electronics purchases. Younger consumers between the ages of 25 and 34 are the most likely to purchase higher-dollar gifts like jewelry or electronics with an average spend of $367.08 for this age demographic who also is more apt to purchase gifts for grandmothers or friends, according to the survey.

Across all ages, 72% plan to purchase greeting cards, down from 74% last year, and 68% plans to purchase flowers this year, up from 64% a year ago. Almost half (49%) said they plan to take part in special outings with their moms this year, up from 46% a year ago but still below the 55% average before the pandemic hit. The most common outings with moms are brunches or some other meal event.

“Even though consumers have indicated a growing comfort with pre-pandemic activities such as travel or dining out, there is still a lot of uncertainty,” Prosper Vice President of Strategy Phil Rist said. “As we’ve seen with other holiday events, a large majority (82 percent) say that as a result of the pandemic, celebrating Mother’s Day this year is important to them.”

Survey data indicates 23% of respondents are planning to give mothers an experience for their gift. This includes services like manicures, pedicures and spa days along with food and entertainment. More than a third (35%) of consumers are giving their moms a subscription box this year.

Almost half (47%) of consumers plan to purchase gift cards for mom, down from 49% a year ago. More than a third (35%) plan to buy jewelry, one-quarter of moms will get some type of housewares or gardening gift, and 20% will likely get electronics, according to the survey.

This year 44% of respondents also said they are looking to find a gift that’s unique and 40% want to create a special memory. One quarter said finding a gift that is convenient to purchase is also important and 15% are looking to find a gift without spending a lot of money. Roughly one third said they look to retailers for Mother’s Day gift inspiration. The survey found 34% plan to make their Mother’s Day gift purchase online.