According to a recent National Retail Federation survey, average consumer spending on Mother’s Day will increase about 12 dollars, from $172.22 to $186.39, for a total of $23.6 billion, making it the highest amount in 14 years, up from $21.4 billion last year.
The survey results predict how shoppers will spend their money:
- 69% will purchase flowers
- 56% a meal
- 45% gift cards
- 37% clothing
- 36% jewelry
- 24% personal services (like a spa day)
- 15% consumer electronics
The main source of increased spending is expected to be attributed to two categories: jewelry (+19%) and personal services (+15%). Survey results also indicate that moms increasingly would like gifts that involve an experience, such as concert tickets or a hot air balloon ride, likely because they create memories. In addition, the results show that older millennials (25-34) will spend the most, and that 35% of shoppers will head to department stores, 31% to specialty stores such as florists, jewelers, or electronics stores, and 24% to local small businesses.
Source: nrf.com
