Mother’s Day spending is poised for another record year

For the second year in a row, Mother’s Day spending is set to hit a new high.

Mother’s Day spending is estimated at $31.7 billion this year, up $3.6 billion from record spending in 2021, according to the National Retail Federation and Prosper Insights annual survey. & Analytics. About 84% of American adults are expected to celebrate Mother’s Day, which falls on May 8 this year.

Consumers plan to spend $25 more this year on Mother’s Day purchases, for a record average of $245.76. Jewelry sales and special outings such as dinners or brunches are driving the increase in spending this year, marking a record in survey history for average spending in both categories. Forty-one percent of consumers plan to gift jewelry this year, up from 34 percent in 2021, and total jewelry spending is expected to reach $7.0 billion.

There’s also been a noticeable increase in the number of shoppers looking for experience gifts. Tickets to sporting events and concerts will be given away by 27% of Mother’s Day shoppers, up from 23% last year and the highest since NRF began tracking this category in 2016.

Other survey results are presented below.

• One-third (36%) of consumers plan to shop online for the holidays. Another 30% of consumers plan to shop at department stores, 27% at specialty stores and 23% at local small businesses.

• More than half of consumers (57%) plan to spend an average of $40.90 on a special outing like dinner or brunch, signaling the continued post-pandemic priority of quality time with loved ones.

• Greeting cards and flowers continue to be core gift categories, with 75% of shoppers planning to purchase greeting cards and 72% planning to purchase traditional Mother’s Day bouquets.

• Thirty-nine percent of consumers want to offer subscription services to products such as Birchbox or Stitch Fix.

[Read More: NRF: Retail sales to grow between 6% and 8% in 2022]

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