Spending On Mother's Day Estimated To Reach Record-High At $23.6B
MINNEAPOLIS (WCCO) – When it comes to mothers, there is never too much that can be done to celebrate all they do.
And this year, consumers are making sure they are really showing their appreciation.
According to the National Retail Federation, spending on Mother's Day is expected to reach an all-time high at $23.6 billion.
The annual survey, conducted by Prosper Insights & Analytics, found that shoppers are expected to spend, on average, $186.39 per person. This is up over $10 from last year.
The increase is thought to be driven largely by spending on jewelry, which is up 19 percent from last year. There was also a 15 percent increase in spending on personal services.
According to the survey, $5 billion is expected to be spent on jewelry, $4.2 billion on dining out, $2.6 billion on flowers, $2.5 billion on gift cards, $1.2 billion on clothing, $2 billion on electronics and $1.9 billion on personal services.
While the most will be spent on jewelry, 69 percent survey said they will be buying flowers. Fifty-six percent said they would by purchasing a meal.
The survey also found that younger consumers are more likely to purchase a gift that will create a "special memory."
While 30 percent will shop online, up from 27 percent in 2016, the majority of consumers will still go into department stores.
The survey was conducted between April 4 and 11 and questioned 7,406 consumers.