NRF: Mother’s Day spending is expected to reach $23.6 billion

According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, consumers are expected to spend more than ever on Mother’s Day this year, choosing from jewelry to special outings at favorite restaurants. 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 this Mother’s Day,” 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."

The overall increase is expected to be driven largely by spending on jewelry, which is up 19 percent, and personal services, up 15 percent.

“Consumers are planning to open 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 are putting their online shopping skills to good use to purchase their moms the perfect gift.”

When searching for the perfect gift, 31 percent will shop at specialty stores such as florists, jewelers or electronics stores, while 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.