Consumers Plan for Record-High Spending on Mother's Day
Shoppers plan to spend more on mom this Mother's Day than they have in the past 14 years. According to an annual survey of 7,406 consumers by the National Retail Federation (NRF), spending for Mother’s Day will be higher than in any other year in the survey’s 14-year history, with experiential gifts like spa days and restaurant meals gaining appeal. Mother’s Day shoppers will spend an average of $186.39, up from $172.22 in 2016, as total spending is estimated to reach $23.6 billion, according to the NRF. Popular gifts include jewelry, flowers, and experiences like dinner or a spa day.
Total Retail’s Take: While holiday 2016 spending was robust, particularly online, it didn't equate to meaningful retail gains. There has been a trend where consumers are spending more on experiences rather than on material things. This year, more moms (28 percent) said they would like the “gifts of experience" for Mother's Day, up from 24 percent last year.