According to NRF’s 2014 Mother’s Day Spending Survey conducted by Prosper Insights & Analytics, Americans will spend an average of $162.94 in celebration of Mother’s Day, down from last year ($168.94). Total spend is expected to reach $19.9 billion.
Gifts for moms are expected to be more practical in nature this year as well, says NRF, with items such as greeting cards (81.3 percent), flowers (66.6 percent) and apparel (33.5 percent) topping the list of most purchased. Other product categories to get a boost from the holiday include books and CDs, housewares or gardening tools, experiential gifts, jewelry and special outings like brunch or dinner. Gift cards are also increasing in popularity this year as a gift option, with 43.3 percent of shoppers purchasing and expected to account for $2.1 billion in sales, up from 2013’s $2 billion. In 2013, gifts such as tablets, smartphones, cameras and more accounted for $2.3 billion in sales–2014 will only see a total of $1.7 billion in sales of such items.
“As one of the most universally celebrated holidays, retailers will take this opportunity to attract Mother’s Day shoppers with promotions on ladies apparel items, health and beauty products, jewelry and even restaurant options,” says Matthew Shay, president and chief executive officer, NRF. “Now fully into spring, retailers are hoping consumer sentiment and spending intentions continue to grow as we round out one of the busiest retail seasons of the year and prepare for summer.”
Shoppers will mostly head to specialty (33.5 percent), department (32.4 percent), online (29 percent) and discount stores (24 percent) to purchase gifts.
“Americans haven’t forgotten about the state of the economy and are treating their finances and gift-giving budgets in a way that keeps practicality top of mind,” says Pam Goodfellow, director, Prosper’s Consumer Insights. “But like we saw with Valentine’s Day and Easter, people this year will look for special ways to treat mom to something nice without breaking the bank, knowing it’s the thought that counts.”
Demographically, 25- to 34-year-olds will spend the most on Mom ($216.53).