FILE - A florists shows a small pot with a plant and the words 'Happy Mothers Day' written on it, in a flower shop.
LOS ANGELES - According to the latest annual consumer survey by the National Retail Federation (NRF), Mother's Day spending is projected to hit $33.5 billion this year.
This marks the second-highest amount recorded in the survey's history, trailing only behind last year's peak of $35.7 billion.
"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 spending habits
A whopping 84% of U.S. adults plan to partake in this year's festivities, with an average expenditure of $254.04 on gifts and celebrations.
This average is only second to last year's high of $274.02. The survey identifies adults aged 35 to 44 as the highest spenders, with an average budget of $345.75 for the occasion.
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The Origins of Mother's Day
Many have celebrated the holiday for years, but not all know of its history.
Mother's Day gift trends
Traditional gifts remain popular, with flowers and greeting cards favored by 74% of shoppers and special outings like dinners or brunches chosen by 59%.
According to the NRF, this is how much money consumers are spending on popular Mother's Day gifts:
- Jewelry: $7 billion
- Special outings: $5.9 billion
- Electronics: $3.5 billion
- Flowers: $3.2 billion
- Greeting cards: $1.1 billion