In a holiday increasingly celebrated with pricey restaurant brunches and spa gift certificates, Mother’s Day spending should reach $35.7 billion, according to forecasts from the National Retail Federation, That’s a new record, up 13% from last year’s $31.7 billion, also a record.
And with 84% expected to mark the day somehow, the NRF projects average spending for those celebrating to hit $274.02 per person. That’s up from $245.76 in 2022.
The heaviest spenders, as is typical, are those in the 35-to-44 age group, who are most likely to have children at home. For those people, per-person spending is expected to be $382.26.
The holiday’s scope has steadily expanded in recent years to include ways to honor many women in people’s lives, including aunts, sisters and friends. This year, 57% of the NRF's sample plans to buy something for a mother or stepmother, followed by wives (23%) and daughters (12%)
Mother’s Day is typically the busiest day of the year for restaurants. It’s generally the second biggest day of the year for florists, eclipsed only by Valentine’s Day.
The NRF says this year, 74% will buy greeting cards, 74% plan to purchase flowers, and 60% will spend money on an outing. The brunches and dinners are expected to amount to $5.6 billion.
And experiential gifts, such as a trip to a spa or beauty salon, continue to gain, with one-third planning to give such a present.
Shoppers are expected to spend $7.8 billion on jewelry and $4 billion on electronics.
The NRF’s survey included more than 8,600 U.S. adults and was conducted by Prosper Insights & Analytics.
The Mother’s Day projections underscore just how sturdy American shoppers are, even as they struggle with inflation and higher interest rates.
The latest national growth report, just released by the U.S. Commerce Department, reports that gross domestic product grew 1.1% at an annual rate this quarter. While that’s significantly lower than the 2.6% growth in the fourth quarter, it signals that consumers are still willing to spend when it’s important to them.