According to an annual survey released today by the National Retail Federation (NRF), consumer spending is expected to total $ 28.1 billion, with about 83% of American adults expected to celebrate the annual holiday.
That number is up from last year, when spending totaled $ 26.7 billion. This year, consumers plan to spend an average of $ 220.48 on Mother’s Day items, $ 16 more than they planned to spend last year and the highest in history. NRF survey.
âThere is a lot of optimism among consumers around Mother’s Day this year as more people are getting vaccinated and stimulus checks are being handed out,â said Matthew Shay, President and CEO of the NRF. âFor many it’s a chance to catch up with last year’s Mother’s Day when we were in lockdown. With safety in mind, consumers plan to be with their family, plan their trip, and organize a brunch or special outing. All of these activities will be reflected in their purchasing decisions.
âEven though consumers have indicated increasing comfort with pre-pandemic activities such as travel or dining out, there is still a lot of uncertainty,â said Phil Rist, vice president of strategy at Prosper Insights & Analytics, which conducted the consumer survey. âAs we’ve seen with other holiday events, a large majority (82%) say that due to the pandemic, celebrating Mother’s Day this year is important to them.â