MNI BRIEF: US Retail Spending Set For Mothers' Day Gift Spike

Americans are poised for a Mothers' Day splurge, spending a record amount on holiday gifts and activities, the National Retail Federation said Thursday, as widely available Covid vaccines and stimulus checks drive consumer confidence higher and family members try to make up for lost time. Mother's Day spending is expected to total a record USD28.1 billion, up 1.4 billion from last year.

Consumers plan to spend an average of USD220.48 on Mother's Day items, an all-time high, the NRF said. That'll mostly be driven by record spending on jewelry and electronics, though spending at restaurants is also set to spike, with half of respondents planning special outings like Sunday brunch.

Just over one-third of respondents said they would purchase their gifts online, down from 2020 when mandated business shutdowns were in place. Nearly 30% of respondents said they planned to shop at department stores this year, 26% said they would shop at specialty stores like florists, and 23% said they would buy from small businesses.