Mother’s Day spending this year will rebound to a record $28.1 billion, up $1.4 billion from last year’s coronavirus lockdown conditions, reports the National Retail Federation.
The survey about the May 9 holiday, performed April 1-9, involved 7,818 people age 18 and older who were asked about their spending plans.
Shoppers said jewelry and electronics items were the primary drivers for the expected spending increase. Jewelry may account for 59% of the $1.4 billion increase while electronics account for 28% of it, results show.
“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,” NRF President and CEO Matthew Shay said. “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.”
