Consumers are becoming more confident in their spending habits, and moms will reap these benefits this year as spending continues to grow for Mother’s Day. In a press release published by NRF this week, they used data from BIGinsight’s annual Mother’s Day spending survey that revealed people celebrating this holiday will spend an average of $168.94 on their moms, an 11% increase from last year’s $152.52. Total spending for next Sunday is expected to reach $20.7 billion.
One of the survey’s most news-worthy findings are that 14.1% of these consumers plan to splurge for mom on electronics – the highest percentage ever in the survey’s history. 28.5% of Americans plan to buy their gifts online, up from 25.6% last year, also the highest in the survey’s history.