Mother’s Day Spending to Reach $23.1 Billion
WASHINGTON, April 24, 2018 – Mother’s Day spending is expected to total a near-record $23.1 billion this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. A total 86 percent of Americans will celebrate Mother’s Day and spend an average of $180 per person.
“This year’s Mother’s Day forecast is one of the strongest we’ve ever seen,” NRF President and CEO Matthew Shay said. “With spring in full bloom, Americans are looking forward to splurging on their mothers and retailers are prepared to offer a variety of options that will allow consumers to find the perfect gift for the occasion.” The expected spending would be second only to last year’s $23.6 billion, the highest in the 15-year history of the survey at an average $186 per person.
According to the survey, consumers plan to spend $4.6 billion on jewelry (purchased by 34 percent of shoppers), $4.4 billion on special outings such as dinner or brunch (55 percent) and $2.6 billion on flowers (69 percent). In addition, $2.5 billion will be spent on gift cards (45 percent), $2.1 billion on clothing (36 percent), $2.1 billion on consumer electronics (14 percent) and $1.8 billion on personal services such as a spa day (24 percent). Another $956 million will be spent on housewares or gardening tools (19 percent), $813 million on greeting cards (77 percent) and $494 million on books or music (19 percent).
The survey found 29 percent want to receive a “gift of experience” such as a spa day, tickets to a concert or gym membership while 26 percent plan to give such a gift. Gifts of experience are given most often — 45 percent of those surveyed — by 18 to 34-year olds.
“Mother’s Day continues to be a holiday close to the heart of many Americans and this year is no different,” Prosper Insights Executive Vice President of Strategy Phil Rist said. “Those between 35 and 44 years old are planning to spend the most this season, while younger consumers are the most likely to put their online shopping skills to good use to find inspiration for the perfect gift for mom.”
Individuals ages 35-44 will be the biggest spenders this year at an average $224. However, those between 18-24 will most likely use smartphones to research their purchases and compare prices at 62 percent.
When searching for gifts, 35 percent of consumers will head to department stores and 31 percent will shop online, while 29 percent plan to shop at specialty stores such as florists, jewelers or electronics stores. Meanwhile, 23 percent plan to shop at a local small business, 22 percent at discount stores and 10 percent at specialty clothing stores. The survey, which asked 7,520 consumers about their Mother’s Day plans, was conducted April 4-12 and has a margin of error of plus or minus 1.2 percentage points.
About Prosper Insights & Analytics
Prosper Insights & Analytics is a global leader in consumer intent data serving the financial services, marketing technology, and retail industries. We provide global authoritative market information on U.S. and China consumers via curated insights and analytics. By integrating a variety of data including economic, behavioral and attitudinal data, Prosper helps companies accurately predict consumers’ future behavior to help identify market behaviors, optimize marketing efforts, and improve the effectiveness of demand generation campaigns. www.ProsperInsights.com
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.