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Mother's Day spending in US to reach near-record of $33.5 bn: NRF

26 Apr '24
2 min read
Mother's Day spending in US to reach near-record of $33.5 bn: NRF
Pic: Adobe Stock

Insights

  • Americans are poised to spend $33.5 billion on Mother's Day, nearly reaching last year's record of $35.7 billion.
  • Eighty-four per cent plan to celebrate, spending an average of $254.04 each.
  • The 35-44 age group will spend the most, averaging $345.75.
  • Online and department stores are top shopping choices, with a focus on unique and memorable gifts.
Americans are set to spend a substantial $33.5 billion on Mother's Day this year, making it the second highest total ever recorded, according to the latest survey from the National Retail Federation and Prosper Insights & Analytics. This figure comes close to last year's all-time high of $35.7 billion.

The survey indicates that 84 per cent of US adults plan to celebrate Mother's Day, with an average spend of $254.04 per person on gifts and celebrations. This spending average is only surpassed by last year's record of $274.02 per person. Notably, individuals aged between 35 and 44 are expected to be the biggest spenders, budgeting an average of $345.75 for the holiday.

Online shopping continues to be the preferred method for Mother's Day purchases, with 35 per cent of shoppers opting for this method. Department stores are also a popular choice, attracting 32 per cent of shoppers, followed by specialty stores at 29 per cent and local or small businesses at 25 per cent, as per the annual consumer survey.

The majority of gift-givers (59 per cent) are buying for a mother or stepmother, while 22 per cent are purchasing gifts for a wife, and 12 per cent for a daughter. This year, there is a strong emphasis on thoughtful gifts, with 48 per cent of shoppers looking for unique or different items and 43 per cent aiming to create a special memory.

“Mother’s Day is a time to celebrate the women who play a meaningful role in our lives,” said NRF president and CEO Matthew Shay. “Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation.”

Fibre2Fashion News Desk (DP)

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