Mother’s Day Sales Expected To Drop Compared To Last Year
Have you got your Mother’s Day gift planned and purchased? Tomorrow’s the big day and everyone wants to show their love and appreciation for mom, but people want to do it while spending a little less than they did last year if the experts are correct.
Spending this year is expected to reach $19.9 billion. According to the National Retail Federation, the average shopper expects to spend $162.94, about $6 less than last year. Those between the ages of 25 and 34 are expected to spend the most — $216.53. This is the age group that’s coming into their own professionally and economically, so it stands to reason that they want to go all out for mom now that they can.
“Americans haven’t forgotten about the state of the economy and are treating their finances and gift-giving budgets in a way that keeps practicality top of mind,” said said Prosper’s Consumer Insights Director Pam Goodfellow in a statement about the figures.
The experts expect sales of $2.3 billion on flowers while 43 percent say they’ll buy a gift card and let mom pick out her own gift.