Mother’s Day, which will be celebrated on May 14 in the US, will reportedly see 84% of US adults celebrating. Americans are set to splurge a record average of $274.02 per person – “the highest in the survey’s history”, according to a press release by the NRF quoted by Diamond World.
According to the survey, American consumers plan to spend a record-breaking $35.7 billion on gifts this year – almost $4 billion more than last year’s record of $31.7 billion. Additionally, consumers are expected to spend a total of $7.8 billion on jewelry – one of the most popular gift categories ahead of Mother’s Day.
The top spenders are people aged 35-44, and they are expected to spend an average of $382.26 on Mother’s Day.
According to the NRF, “Gifts of jewelry, electronics, and apparel are the primary drivers of growth this year. Not only are consumers planning to spend more on these gift categories, but more consumers are interested in gifting these items than ever before.”
