Mother’s Day is right around the corner. Have you purchased a gift for your mom yet?
From flowers and perfume to manicures and meals, Americans plan to spend a bunch to spoil the special ladies in their lives on May 12.
The National Retail Federation reports consumers will spend a record $24.95 billion this holiday — up from last year’s $23.1 billion.
To break it down, that’s an average of $196.47 per shopper. I’m sure your mom is worth much more than that, but it’s really the thought that counts.
Mother’s Day Spending by the Numbers
Here’s the breakdown of where those dollars will end up going:
- Jewelry: $5.2 billion
- Special outings like brunch or dinner: $4.6 billion
- Flowers: $2.6 billion
- Gift cards: $2.6 billion
- Clothing: $2.3 billion
- Electronics: $2.2 billion
- Personal services like spa treatments: $2 billion
Spending on bouquets and brunch are most popular among consumers. Sixty-seven percent surveyed said they’ll purchase flowers, and 55% replied they’d splurge on special outings, like going to a restaurant.
It’s not all about giving “stuff.” Thirty-nine percent of people surveyed said they’d be giving their mother presents that create a “special memory.” Experience gifts are most popular with people under 35.
Show Your Love for Mom Without Breaking the Bank
Now, just because the average consumer may be dropping close to $200 on the moms in their lives doesn’t mean you have to. We’re Penny Hoarders, after all!
Here are few sweet — and affordable — gift options:
Nicole Dow is a senior staff writer at The Penny Hoarder.