May 8th, 2017 by Oren Smilansky

The National Retail Federation (NRF) predicts that customers will make a concerted effort to show their appreciation this Mother’s Day. In its 14th annual survey, conducted by Proper Insights & Analytics, the organization found that total spending on the holiday is expected to reach a record-setting $23.6 billion, up $2.5 billion from last year.

“With spring in full bloom, many Americans are looking forward to splurging on their mothers this Mother’s Day,” Matthew Shay, President and CEO of the NRF, said in a statement. “Retailers will be ready with a wide range of gift options and a variety of promotions for their customers.”

85 percent of the 7,406 consumers surveyed said they would celebrate the holiday, and each individual shopper will shell out $189.39, compared to $172.22 in 2016.

Of the billions spent, the survey found that $5 billion will go to jewelry, $4.2 billion to special outings to restaurants, $2.6 billion to flowers, $2.5 billion to gift cards, $2.1 to clothing, $2 billion to consumer electronics, and $1.9 billion to personal services.

And, according to the findings, customers will still head to physical stores to get their gifts. 35% of buyers said they would go to to department stores, while 31 percent will go to specialty stores for flowers, jewelry, and electronics. 2 percent said they would go to a local small business. However, 30 percent will shop online, which is up 3 percentage points from last year.

 

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