Mother’s Day Spending to Reach Record-High $23.6 Billion
WASHINGTON–(BUSINESS WIRE)–#NRFnews–Consumers say they will spend more than ever on Mother’s Day this year
as they shower moms with everything from jewelry to special outings at
favorite restaurants, according to the National Retail Federation’s
annual survey conducted by Prosper Insights & Analytics.
Mother’s Day shoppers are expected to spend an average of $186.39 for
the holiday, up from last year’s $172.22. With 85 percent of consumers
surveyed celebrating the holiday, total spending is expected to reach
$23.6 billion. That’s the highest number in the survey’s 14-year
history, topping last year’s previous record of $21.4 billion.
“With spring in full bloom, many Americans are looking forward to
splurging on their mothers,” NRF President and CEO Matthew Shay said.
“Retailers will be ready with a wide range of gift options and a variety
of promotions for their customers.”
According to the survey, consumers plan to spend $5 billion on jewelry
(purchased by 36 percent of shoppers), $4.2 billion on special outings
such as dinner or brunch (56 percent), $2.6 billion on flowers (69
percent), $2.5 billion on gift cards (45 percent), $2.1 billion on
clothing (37 percent), $2 billion on consumer electronics (15 percent)
and $1.9 billion on personal services such as a spa day (24 percent).
The overall increase is expected to be driven largely by spending on
jewelry, which is up 19 percent, and personal services, up 15 percent.
When it comes to “gifts of experience” such as tickets to a concert, 28
percent want to receive such a gift, compared with 24 percent last year.
Younger consumers in particular may be looking to create a special
memory, with nearly half under the age of 35 planning to give such a
gift.
“Consumers are opening up their wallets a little bit more to celebrate
the women with the most important jobs in the world on Mother’s Day,”
Prosper Principal Analyst Pam Goodfellow said. “We will see older
Millennials (25-34) spend the most, and younger consumers will put their
online shopping skills to good use to purchase the perfect gift.”
When searching for that perfect gift, 35 percent of consumers will head
to department stores and 31 percent will shop at specialty stores such
as florists, jewelers or electronics stores, while 24 percent plan to
shop at a local small business. Meanwhile, 30 percent will shop online,
up from 27 percent last year. Among smartphone owners, 34 percent will
research gift ideas on their phones while 19 percent will use them to
make a purchase.
The survey, which asked 7,406 consumers about their Mother’s Day plans,
was conducted April 4-11 and has a margin of error of plus or minus 1.2
percentage points. Full data results will not be published on NRF.com
but news media and analysts who require additional information can
contact press@nrf.com.
About Prosper Insights & Analytics
Prosper Insights & Analytics delivers executives timely,
consumer-centric insights from multiple sources. As a comprehensive
resource of information, Prosper represents the voice of the consumer
and provides knowledge to marketers regarding consumer views on the
economy, personal finance, retail, lifestyle, media and domestic and
world issues. www.ProsperDiscovery.com
About NRF
NRF is the world’s largest retail trade association, representing
discount and department stores, home goods and specialty stores, Main
Street merchants, grocers, wholesalers, chain restaurants and Internet
retailers from the United States and more than 45 countries. Retail is
the nation’s largest private sector employer, supporting one in four
U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to
annual GDP, retail is a daily barometer for the nation’s economy.
Contacts
National Retail Federation
Ana Serafin Smith, 855-NRF-PRESS
press@nrf.com
