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Mother’s Day Spending in the US Expected to Reach $35.7 Billion in 2023 May 01, 2023 (0 comments)
New York, NY--According to the National Retail Federation (NRF), US consumers are projected to spend $35.7 billion on Mother's Day in 2023, surpassing the previous year's record of $31.7 billion.
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According to a Fashion Network article, the NRF reports that 84% of US adults plan to celebrate the occasion, with an anticipated average spend of $274.02 per person, up from $245.76 in 2022. Among different age groups, consumers aged 35 to 44 are expected to spend the most, averaging $382.26 per person.
Popular gifts remain consistent with previous years, with flowers (74%), greeting cards (74%), and special outings such as dinner or brunch (60%) topping the list. However, spending across all categories is expected to rise, totaling $7.8 billion on jewelry, $5.6 billion on special outings, and $4 billion on electronics.
Regarding shopping preferences, 34% of consumers will shop online, 34% at department stores, 30% at specialty stores, 24% at local and small businesses, and 23% at discount stores.
NRF President and CEO Matthew Shay stated in a report that Mother's Day allows Americans to honor significant women in their lives, and retailers are prepared to assist shoppers in finding the perfect gifts to express their appreciation and admiration.
Learn more in this report by Fashion Network.