Total spending for Mother’s Day is expected to top out at $23.6 billion.
The findings are part of an annual Mother’s Day Spending Survey conducted with Prosper Insights and Analytics.
This year, consumers plan to spend an average of $186.39 for the holiday, up from last year’s $172.22. Total spending is expected to reach $23.6 billion, the highest in the survey’s 14-year history and topping last year’s previous record of $21.4 billion.
The overall increase is expected to be driven by spending on jewelry, which is up 19 percent, and personal services, which is up 15 percent.
According to the survey, consumers plan to spend $5 billion on jewelry (purchased by 36 percent of shoppers), $4.2 billion on special outings such as dinner or brunch (56 percent), $2.6 billion on flowers (69 percent), $2.5 billion on gift cards (45 percent), $2.1 billion on clothing (37 percent), $2 billion on consumer electronics (15 percent) and $1.9 billion on personal services
Of those surveyed, 35 percent of consumers will shop at department stores and 31 percent will shop at specialty stores such as florists, jewelers or electronic stores. Meanwhile, 24 percent plan to shop at a local small business and 30 percent will shop online, up 27 percent from last year. Among smartphone owners, 34 percent will research gift ideas on their phones while 19 percent will use them to make a purchase.
“Consumers are opening up their wallets a little bit more to celebrate the women with the most important jobs in the world on Mother’s Day,” says Pam Goodfellow, principal analyst, Propser. “We will see older Millennials (25-34) spend the most, and younger consumers will put their online shopping skills to good use to purchase the perfect gift.”
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