Mother's Day spending expected to increase 8% this year
— -- America's moms, grandmothers, aunts, stepmoms and daughters will feel the love this Sunday to the tune of $18.6 billion, according to the annual Mother's Day spending survey from the National Retail Federation.
Almost 87% of consumers plan to celebrate the holiday, spending an average of about $152, up from around $140 last year, the survey of about 8,700 consumers shows. And while traditional spending on flowers, cards and brunch reigns, almost 13% of consumers will give electronics such as tablets and digital cameras.
The 8% increase in spending is "significant," says Mike Gatti, executive director of the Retail Advertising and Marketing Association and a senior vice president at NRF.
"We're seeing that the consumer is feeling a little bit better," he says, adding that Mother's Day is second only to Christmas as the biggest gift-giving holiday of the year.
But it's not just because people feel better about the economy, says Robert Passikoff, president of customer loyalty consultancy Brand Keys, which also conducted a Mother's Day spending survey.
"Mother's Day has become a more wide-reaching event," Passikoff says, referring to the fact that people not only celebrate their mom on the holiday, but extended family members as well, making it a "real opportunity for retail."
Consumers indicated they're planning to buy gifts for their mom, stepmom, wife, daughter, grandmother, sister, friend or godmother, according to the NRF survey.
Cara Putman, an author and attorney from Lafayette, Ind., bought cards for her grandmother, mother, mother-in-law and an aunt.
"It's an opportunity to remind them what an impact they've had in my life through their love and support," says the 38-year-old, who is a mother of four.
Mother's Day spending probably won't have a major impact on overall May retail sales, though, says Ken Perkins, president of Retail Metrics. "It will move the needle a little bit," he says. "I don't think it's going to create a huge spike in sales."
Perkins projects May sales to rise 1.6% over last year, modest compared with 5.5% last year.
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