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Consumer Spending On Mother’s Day Expected To Surpass $28 Billion This Year

Consumer Spending On Mother’s Day Expected To Surpass $28 Billion This Year

Consumer Spending On Mother's Day Expected To Surpass $28 Billion This Year

Millennials are planning to spend significantly more on Mother’s Day this year, with sales expected to reach a record $ 28.1 billion, up from $ 26.7 billion in 2020, according to a recent survey of 7,818 consumers by the National Retail Federation. Overall, 83 percent of U.S. adults are expected to celebrate the holiday on May 9.

“There is a lot of consumer optimism around Mother’s Day this year as more people are getting vaccinated and stimulus checks are being distributed,” said NRF President and CEO Matthew Shay.

“For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown. With safety guidelines at top of mind, consumers are planning to be with family, are making travel plans and organizing a special brunch or outing. All of these activities will be reflected through their purchasing decisions.”

This year, consumers are expected to spend $220.48 on buying gifts, which is $16 higher than the amount they spent last year and the highest amount they have spent historically.

Younger millennials, aged 25-34, are expected to drive demand, spending nearly $367 on average, which is $99 more than last year. These shoppers are expected to buy high-dollar items such as jewelry and electronics for their mothers and grandmothers and friends.

“Even though consumers have indicated a growing comfort with pre-pandemic activities such as travel or dining out, there is still a lot of uncertainty,” said Prosper Vice President of Strategy Phil Rist. “As we’ve seen with other holiday events, a large majority (82 percent) say that as a result of the pandemic, celebrating Mother’s Day this year is important to them.”

The survey also found that more than one-third of consumers plan to purchase their Mother’s Day gifts online this year, down from 2020 when shoppers were dealing with lockdowns but still above pre-pandemic levels. Aside from shopping online, 28 percent also plan to shop at department stores, while 26 percent plan to shop from specialty stores like florists or jewelers and 23 percent plan to shop at small business stores.

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