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Consumer Behavior

Mother's Day spend expected to hit record-setting $28B

Mother's Day spend expected to hit record-setting $28BPhoto by istock.com


Mom's day will be record-setting consumer spend day.

A National Retail Federation survey, conducted by Prosper Insights & Analytics, projects holiday spend to hit $28.1 billion this year, an increase of $1.4 billion compared to Mother's Day in 2020. A good majority, 83%, of U.S. adults will celebrate the holiday. And it's all likely due to the COVID-19 vaccination effort and additional stimulus monies.

"There is a lot of consumer optimism around Mother's Day this year as more people are getting vaccinated and stimulus checks are being distributed," NRF President and CEO Matthew Shay said in a press release on the survey findings. "For many, this is a chance to make up for last year's Mother's Day when we were under lockdown. With safety guidelines at top of mind, consumers are planning to be with family, are making travel plans and organizing a special brunch or outing. All of these activities will be reflected through their purchasing decisions."

Consumers plan to spend an average of $220.48, which is $16 more than they planned to spend last year and the highest in the survey's history.

Jewelry and electronics are top of mind for shoppers, with jewelry accounting for over half (59%) of the $1.4 billion increase in spending while electronics will account for over one-quarter (28%).

Nearly half of consumers, 49%, are planning a special outing such as a brunch or other activity. And while this is up slightly from last year, it is still below pre-pandemic levels.

"Even though consumers have indicated a growing comfort with pre-pandemic activities such as travel or dining out, there is still a lot of uncertainty," Prosper Vice President of Strategy Phil Rist said in the release. "As we've seen with other holiday events, a large majority (82%) say that as a result of the pandemic, celebrating Mother's Day this year is important to them."

The 2021 survey polled 7,818 U.S. adults 18 and older in early April.



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