JACKSONVILLE, Fla. – $32 billion dollars.
That’s how much shoppers are expected to spend for Mother’s Day, according to the National Retail Federation.
That’s up $3.6 billion since last year and also record-shattering.
“That increase in spending is not just being driven by something like inflation, it’s by more consumers participating in different parts of the holidays and really looking to splurge on their moms,” said Katherine Cullen, Senior Director of Industry and Consumer Insights, NRF.
The NRF said adults celebrating Mother’s Day will spend about $245.76 on average.
The top three gifts this year:
Special Outings (Dinner or Brunch)
“We’re seeing consumers aren’t looking to skimp on loved ones when it comes to events like Mother’s Day, even if they’re feeling pressures and other parts of their lives,” said Cullen.
Inflation has reached a 40-year high, but it hasn’t deterred shoppers.
The National Retail Federation predicts that 41% of shoppers will treat mom to some form of jewelry.
It also found that 27% of consumers wanted to give a gift of an experience like a spa appointment or concert tickets or another activity that can be enjoyed throughout the year.
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