Mother’s Day spending is expected to reach $33.5 billion

With Mother’s Day approaching, Americans are expected to spend $33.5 billion to make the day memorable.

The amount will make Mother’s Day spending this yr the second-largest, just behind last yr’s record $35.7 billion, based on annual consumer spending questionnaire by the National Retail Federation (NRF) and Prosper Insights & Analytics.

Consumers plan to spend a mean of $254.04 on Mother’s Day gifts and galas, the second highest per person and down from last yr’s banner high of $274.02. Top spenders are expected to be between the ages of 35 and 44, with the budget to have fun special ladies expected to average $345.75.

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

According to the press release and as in previous years, the preferred gifts are flowers (74%), greeting cards (74%) and special occasions resembling dinner or brunch (59%).

Consumers will spend $7 billion on jewelry, $5.9 billion on special occasions and $3.5 billion on electronics. This yr, total spending on flowers is expected to reach $3.2 billion and greeting cards at $1.1 billion.

Thoughtful gifts will probably be top of mind for many individuals searching for Mother’s Day. More than in previous years will deal with identifying and presenting items which are rare (48%) or create a singular memory (43%).

Almost 60% of individuals celebrating this holiday do shopping especially for his or her mother or stepmother, followed by their wife (22%) or daughter (12%).

“While consumers continue to gravitate toward classic Mother’s Day gifts like flowers and greeting cards, nearly one-third plan to give the gift of an experience this year,” said Prosper executive vice chairman of strategy Phil Rist. “Consumers also plan to spend more on special occasions than before.”

When it comes to where people shop, online remained the preferred place to shop this yr, followed by department shops (32%), specialty stores (29%), and native or small businesses (25%).