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Americans expected to spend less this Mother's Day

Spending on special outings expected to be higher than a year ago, however.
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Posted at 12:27 PM, May 02, 2024

The National Retail Federation said it expects a slight decline in spending this Mother's Day compared to 2023, even though more will be spent on special outings.

In new data from the NRF, U.S. consumers are expected to spend $33.5 billion this Mother's Day, which is $2.2 billion less than a year ago. The per-person amount is expected to decline from $274 to $254.

The organization's data, however, shows that the same proportion of Americans will celebrate Mother's Day this year. The NRF estimates that 84% of American adults will do something to celebrate Mother's Day.

Although spending overall on Mother's Day is expected to decline, the amount spent on special outings is expected to increase from $43.29 per person last year to $44.97.

However, the average amount being spent on jewelry will drop from $59.90 per person to $53.12 this year. Americans are also expected to spend less on gift cards and electronics for Mother's Day this year.

Flower spending will be about the same as a year ago, the NRF estimates.

Even with the drop in spending, Mother's Day remains an important day for U.S. retailers.

“Mother’s Day is a time to celebrate the women who play a meaningful role in our lives,” NRF President and CEO Matthew Shay said. “Retailers know the significant importance of this day and are ready to help their customers with a wide selection of meaningful gifts for loved ones to show their appreciation.”

Mother's Day ranks behind back-to-college, back-to-school and Christmas/winter holidays as top spending events of the year.