Mother’s Day spending estimated at $33.5 billion

Consumers are still spending big on mom for Mother’s Day (May 12) despite inflation, with sales expected to reach $33.5 billion, the second highest level in history, according to the National Retail Federation (NRF).

Spending will be down from $35.7 billion reported a year ago, according to the trade group. The NRF reported that 84% of consumers plan to celebrate the holiday this year, spending an average of $254, down from $274 reported a year ago. NRF said the biggest spenders are between the ages of 35 and 44, who have budgeted $345 for their spending this Mother’s Day.

“Mother’s Day is a time to celebrate the women who play a meaningful role in our lives,” said NRF President and CEO Matthew Shay. “Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation.”

NRF reports 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%).

Spending by category includes $7 billion in jewelry purchases, $5.9 billion will be spent on special outings and $3.2 billion on flowers. An additional $3.5 billion will be spent on electronics and $1.1 billion on greeting cards. Consumers said they sought to find thoughtful gifts with 43% seeking to create a special memory and 48% seeking items that are unique or different for moms.

“Even though consumers continue to gravitate toward classic Mother’s Day gifts like flowers and greeting cards, almost one-third plan to give an experience this year. Consumers also plan to spend more on special outings than they have in the past,” said Phil Rist, vice president of strategy at Prosper who conducted the survey for the NRF.

A survey by Bread Financial found 16% of consumers will also treat themselves this Mother’s Day. No more so than 25% of moms in their child-rearing years. Also, 16% of moms under age 54 and 15% of moms older than that said they plan to treat themselves this Mother’s Day.