Mother’s Day spending expected to hit a new record this year
Mother’s Day 2019 is expected to deliver the holiday’s highest consumer spending to date.
That’s according to an annual survey conducted by Prosper Insights & Analytics for the National Retail Federation, which estimates that consumers will spend a record $25 billion on the holiday this year, up from $23.1 billion in 2018. A total of 84% of U.S. adults are expected to celebrate in honor of their mothers and other women in their lives.
While the number of people celebrating Mother’s Day is a bit lower than last year’ 86%, those celebrating are expected to spend more at an average $196 compared with $180 in 2018, according to the survey. Consumers ages 35 to 44 are likely to spend the most at an average $248, up from $224, and men are likely to spend more than women at $237 compared with $158.
Newer models of gift-giving, including special outings and gift cards, are growing, in addition to more traditional gifts including flowers, greeting cards, and jewelry. Increased spending on jewelry represents 31% of the expected increase over last year.
The top gift categories (in percent planning to purchase), in order, are greeting cards (75% plan to purchase), flowers (67%), special outings (55%), gift card cards/certificates (45%), clothing or accessories (38%), jewelry (35%), personal services (24%), housewares or gardening tools (20%), books or CDs (20%) and consumer electronics (15%).
“Mother’s Day spending has been growing consistently over the past several years, and this year’s spending is expected to be the highest in the 16-year history of our survey,” said NRF president and CEO Matthew Shay.
That’s according to an annual survey conducted by Prosper Insights & Analytics for the National Retail Federation, which estimates that consumers will spend a record $25 billion on the holiday this year, up from $23.1 billion in 2018. A total of 84% of U.S. adults are expected to celebrate in honor of their mothers and other women in their lives.
While the number of people celebrating Mother’s Day is a bit lower than last year’ 86%, those celebrating are expected to spend more at an average $196 compared with $180 in 2018, according to the survey. Consumers ages 35 to 44 are likely to spend the most at an average $248, up from $224, and men are likely to spend more than women at $237 compared with $158.
Newer models of gift-giving, including special outings and gift cards, are growing, in addition to more traditional gifts including flowers, greeting cards, and jewelry. Increased spending on jewelry represents 31% of the expected increase over last year.
The top gift categories (in percent planning to purchase), in order, are greeting cards (75% plan to purchase), flowers (67%), special outings (55%), gift card cards/certificates (45%), clothing or accessories (38%), jewelry (35%), personal services (24%), housewares or gardening tools (20%), books or CDs (20%) and consumer electronics (15%).
“Mother’s Day spending has been growing consistently over the past several years, and this year’s spending is expected to be the highest in the 16-year history of our survey,” said NRF president and CEO Matthew Shay.