Mother’s Day shoppers are expected to spend more $21.4 billion on gifts in 2016, nearly matching last year’s record-setting sales figures.
A survey released Monday by the National Retail Federation estimates 84 percent of consumers will buy gifts for Mother’s Day, with the average family expected to spend $172.22 celebrating their matriarchs this year. The figure is just shy of 2015’s $172.63 average, but remains $10 higher than 2014 numbers.
“It’s wonderful to see families wanting to celebrate and honor their mothers, and we expect near record spending once again,” said Florida Retail Federation President Randy Miller. “Florida’s economy continues to outpace the national economy, which should bode well for Sunshine State retailers who price items right and take advantage of the expected increased sales opportunities.”
The big three Mother’s Day staples — jewelry, flowers and dinner — are projected to account for half of all spending this year, with one-third of shoppers spending a combined $4.2 billion on jewelry. Dinners and nights out, which 55 percent of those polled are planning, come second at $4.1 billion, followed by flowers at $2.4 billion.
Consumers also plan to spend $2.2 billion on gift cards, $1.9 billion each for clothing and electronics and $1.6 billion for personal services such as spa days. The balance, $792 million, will come from greeting cards, which 78 percent of respondents said they would buy this year.
For the first time in an NRF survey, consumers were also asked about “gifts of experience,” such as tickets to a concert or show. About a quarter of respondents said they wanted an experience gift, and 22 percent stated that they planned to give one.
The NRF survey collected responses from 7,000 consumers between April 5 and April 13 and has a margin of error of 1.2 percentage points.