WASHINGTON DC – Mother’s Day spending is expected to total $31.7 billion this year, up $3.6 billion from 2021’s record spending, according to the annual consumer survey released today by the National Retail Federation and Prosper Insights & Analytics. Approximately 84 percent of U.S. adults are expected to celebrate Mother’s Day.
“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” said NRF President and CEO Matthew Shay.
Consumers are planning to spend $25 more this year on Mother’s Day purchases and are expected to spend a record average of $245.76.
Jewelry purchases and special outings such as dinner or brunch are driving this year’s spending increases, marking a record in the survey’s history for average spending in both categories.
“Jewelry remains a timeless gift selection for Mother’s Day and continues to capture an increasing market share,” said Prosper Vice President of Strategy Phil Rist. “Forty-one percent of consumers are planning to gift jewelry this year, up from 34 percent in 2021 and total spending on jewelry is expected to reach $7.0 billion.”
There is also a notable uptick in the number of shoppers seeking gifts that cannot be wrapped. Gifts of experience like concert or sporting event tickets will be given by 27 percent of Mother’s Day shoppers, up from 23 percent last year and the highest since NRF started tracking this category in 2016.
More than half of consumers (57%) are planning to spend an average of $40.90 on a special outing like dinner or brunch, signaling continued post-pandemic prioritization of quality time with loved ones.
Greeting cards and flowers continue to be staple gift categories with 75 percent of shoppers planning to buy greeting cards and 72 percent planning to buy traditional Mother’s Day bouquets.
Finding meaningful Mother’s Day gifts remains a top priority for shoppers. The topmost important factors are finding a gift that is unique or different (46%) and finding a gift that creates a special memory (41%).
Over one-third (36%) are planning to make their purchases for the holiday online. Another 30 percent of consumers are planning to shop at department stores, 27 percent at specialty stores and 23 percent at local small businesses.
In addition, 39 percent of consumers are interested in gifting product subscription services such as Birchbox or Stitch Fix, extending the gift-giving experience beyond Mother’s Day.
The survey of 8,574 consumers was conducted April 1-11, 2022, and has a margin of error of plus or minus 1.1 percentage points.
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs — 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com
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
Republished from the National Retail Federation news webpage