Despite continued economic uncertainty, shoppers are expected to spend more on gifts, outings and experiences this year.
WASHINGTON — The cost of Mother’s Day this year is expected A new record has been set, according to a new survey from the National Retail Federation and Prosper Insights & Analytics.
Spending is expected to total $38 billion, up from $34.1 billion last year and on track to break the previous record of $35.7 billion set in 2023. The survey of 7,877 U.S. adults was conducted April 1-8.
The survey found that 84% of American adults plan to celebrate Mother’s Day this year. Consumers are expected to spend an average of $284.25 per person on gifts and celebrations, up from $259.04 last year and setting another record high.
“Mother’s Day remains a top priority for many Americans, who plan to spend the holiday despite the current economic uncertainty,” NRF chief economist Mark Mathews said in a statement.
Flowers and cards continue to be the most popular gifts, with 75% of shoppers saying they plan to buy flowers and 74% planning to buy cards. Other popular gifts include special outings like dinner or brunch, gift cards, and clothing.
Jewelry is expected to account for the largest share of spending at $7.5 billion, followed by special events at $6.4 billion and electronics at $4.4 billion. Spending on electronics is expected to top $4 billion for the first time in the survey’s history.
The survey also found that experience-based gifts remain popular. About a third of consumers say they plan to offer experiences like concerts or sporting events, a record.
Online shopping and department stores tied as the top shopping destinations this year, with 33% of shoppers planning to purchase gifts through both stores.
More than half of celebrants said they planned to buy gifts for mothers or stepmothers, while others purchased gifts for wives, daughters and other maternal figures.
