The National Retail Federation (NRF) conducted its annual survey to see how much people will be splurging on Mother’s Day in 2021. The findings show that spending will eclipse $28 billion this year, with 83% of consumers planning to celebrate the holiday.
“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,” said NRF President and CEO Matthew Shay. “For many, this is a chance to make up for last year’s Mother’s Day when we were under lockdown.”
Spending on mom
If the survey responses are a good indication, then moms can expect some nice gifts this year. Over half of respondents said they plan to spend money on jewelry this year (59%), while over a quarter will look to buy electronics (28%).
Average spending this year is projected to come in at $220.48 per person, but the NRF says consumers between the ages of 25 and 34 will spend even more. This age group plans to spend an average of $367.08 per person, an increase of $99 over last year.
Besides physical gifts, just under half of consumers say they’re planning a special outing or meal for mom (49%). Of course, pandemic conditions will make going out a little bit different than in past years.
“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,” said Shay.