fbpx

Mother’s Day spending to reach near-record amount of $23.1B

by | May 4, 2018 | Marketing, Public Relations

Mother’s Day spending is expected to total a near-record $23.1 billion this year, according to an annual survey from the National Retail Federation (NRF) 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,” said NRF president and CEO Matthew Shay, in a news release. “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.

What are we buying?

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,” said Prosper Insights EVP of strategy Phil Rist, in a news release. “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.”

Where are we shopping?

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.

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.

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.

Daily PR Updates

Essential PR industry news, opinion, and analysis delivered to your inbox daily.

Richard Carufel
Richard Carufel is editor of Bulldog Reporter and the Daily ’Dog, one of the web’s leading sources of PR and marketing communications news and opinions. He has been reporting on the PR and communications industry for over 12 years, and has interviewed hundreds of journalists and PR industry leaders. Reach him at richardc@bulldogreporter.com; @BulldogReporter

RECENT ARTICLES

3 ways you can improve the brand affinity of your company

3 ways you can improve the brand affinity of your company

Brand affinity refers to the solid emotional connection that customers have with your brand. This often depends on factors like your brand message, quality of service or products, and the intentionality you show towards making sure your customers are satisfied....

Understanding blockchain PR: What it is and why we need it

Understanding blockchain PR: What it is and why we need it

The world around us is changing by the minute. In fact, every time you take a breath, a single breath, millions of transactions are occurring in cyberspace. Until this point in time, most transactions were part of an organized system of central banks, owned by...