From jewelry to the best smelling perfume in the store, spending on money on moms this year is expected to reach $19.9 billion.
According to the National Retail Federation’s Mother’s Day spending survey on 6,635 consumers, Americans will spend $162.94, which is down $6 from last year.
The special day to honor mothers began in 1914, when Anna Jarvis asked Congress to make the second Sunday in May Mother’s Day, according to the U.S. Census Bureau.
By the numbers
Of those surveyed, NRF found 25-34 year olds will splurge the most on their mom, spending an average of $216.53.
“Americans haven’t forgotten about the state of the economy and are treating their finances and gift-giving budgets in a way that keeps practicality top of mind,” said Prosper’s Consumer Insights Director Pam Goodfellow in a statement. “But like we saw with Valentine’s Day and Easter, people this year will look for special ways to treat mom to something nice without breaking the bank, knowing it’s the thought that counts.”
Blanking on gift ideas?
More than 60 percent surveyed will buy mom flowers, spending a total of $2.3 billion. Of those surveyed, around 43 percent will buy mom a gift card and let her pick here special gift.
Others to note:
A day at the spa (spending expected:$1.5 billion)
Brunch or dinner (spending expected: $3.8 billion)
Jewelry (Spending expected:$3.6 billion)
Gardening tools (Spending expected: $812 million)
Overall, no matter which way you choose to honor your mom, just remember to say thank you.
How much do you expect to spend this Mother’s Day? Have a creative idea for a gift? Tweet @sandhya__k or leave a comment below.