Mother's Day spending is hitting record levels according to the National Retail Federation.
Americans have been spending more to spoil moms on Mother’s Day for 13 of the last 16 years. Inflation does play a role and this year is no different. A survey conducted by the NRF showed 84% of Americans plan on celebrating Mother’s Day this year and will collectively spend billions.
The data shows $35.7 billion is expected to be spent this Sunday, a 13% increase over last year and a record high. Per-person spending will rise 12% to $274. The top three gift categories in 2023 are gift cards, flowers, and special outings. 74% of moms will be getting gift cards and flowers. 60% will go on a special outing.
The gift with the highest household spending is jewelry at an average of $59.90, an increase of 11% compared to last Mother’s Day.
People will spend on average $43.29 taking Mom out to dinner on Sunday, up 6%. Electronics, one of the least popular gifts for Mom, is also the third highest in the amount spent at $30.69.
Big ticket items like foot massagers and digital photo frames are down considerably this year while cheaper items like scented candles and kitchen gadgets are up.
Mother’s Day is the largest of all non-seasonal holidays and consumer spending events for per-person spending. Back to School and the Christmas/Hanukkah seasons are much larger with in-person spending over $800 respectively. Mother’s Day is next with in-person spending of $274 followed by Valentine’s Day.
