NRF: Mother’s Day spending expected to top $35.7 billion 

by Kim Souza ([email protected]) 921 views 

The National Retail Federation expects U.S. consumers will spend big for the May 14 Mother’s Day. The trade group’s survey with Prosper Insights predicts spending will top $35.7 billion, up 12.6% from a year ago.

NRF said 84% of U.S. adults plan to celebrate the holiday with average spending of $274.02, up 11.5% from a year and the highest in the survey industry. Top spenders come from the 35-44 age group, and are expected to spend $382.26, according to the survey.

“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF CEO Matthew Shay said. “As people make plans to celebrate this year, retailers are prepared to help shoppers find gifts of appreciation and admiration for those they want to recognize on this special day.”

Spending for this holiday is not just for mothers as the survey found 57% will purchase gifts for moms or stepmothers, followed by 23% who shop for wives and 12% who plan to buy gifts for daughters. Consumers also shop for grandmothers and aunts.

“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,” said Phil Rist, head of strategy at Prosper Insights. “Gifts of experience continue to grow in popularity, with nearly one-third of those celebrating Mother’s Day planning to give a gift of experience.”

Some of the more popular gifts include flowers with 74% of respondents saying that’s their gift of choice. Flower costs have increased over the past year. FinanceBuzz reported April 3 the average cost for a dozen roses topped $80.16, up 24% year-over-year. In Arkansas, the price for a dozen roses delivered from a florist averaged $76.48, up more than 20% from a year ago.  Florists have said they were forced to raise prices because of higher flower costs from growers dealing with higher fertilizer expenses, increased demand from more weddings, and higher freight and shipping costs.

NRF reports greeting cards are also popular with consumers with 74% planning to purchase at least one. Also, 60% said they are planning an outing such as dinner or brunch for a total expended spend of $5.6 billion. Consumers will spend an estimated $7.8 billion on jewelry for Mother’s Day and $4 billion is expected to be spent on electronics for Mother’s Day gifts.

Shay said consumers continue to prioritize thoughtful gifts. Respondents said the most important factors in purchasing a Mother’s Day gift include finding items that are unique or different (47%) or those that create a special memory (42%).

The spending numbers are not adjusted for inflation which was on average 5% higher than a year ago through March, according to the Consumer Price Index. Restaurant prices were up 8.8% year over year and jewelry prices increased 8.6% year over year. Personal care services such as beauty salon or nail salon prices were up 5.4% from a year ago.