According the National Retail Federation’s annual survey, Mother’s Day Spending is expected to reach a record-high of $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.
The 85% of those surveyed who said they will be celebrating the holiday say they will spend more this year than last as they search for the perfect gift to celebrate the special moms in their lives. As consumers shower moms with everything from flowers to jewelry, they are expected to spend an average of $186.39 this year, up from last year’s $172.22
“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.”
According to the survey, consumers plan to spend $5 billion on jewelry and $4.2 billion on special outings such as dinner and brunch. Flowers, gift cards and greeting cards will also account for significant portions of the total Mother’s Day sales.
When it comes to where consumers will do their shopping, surprising, over 1/3 of them (35%) will head to department stores. Specialty stores and local businesses like florists and jewelers will also enjoy visits from shoppers. Meanwhile, 30% will shop online, up from 27% last year.
Whether you choose to shop in a brick and mortar store or take to the internet for your Mother’s Day shopping, Accelerated Analytics customers like Coty, Vera Bradley, Swarovski, Chanel and L’Oreal offer a wide range of fashion and beauty gifts than any mom is sure to love!