Consumers in the United States are expected to spend a record $35.7 billion on Mother’s Day, which will be celebrated on May 14 this year, the National Retail Federation (NRF) said Thursday.
The figure, if reached, would be approximately $4 billion more than last year’s record high of $31.7 billion.
The amount of $35.7 billion is equivalent to around P1.963 trillion.
“Mother’s Day provides Americans with an opportunity to honor important women in their lives,” NRF President and CEO Matthew Shay said in the statement.
“As people make plans to celebrate this year, retailers are prepared to help shoppers find gifts of appreciation and admiration for those they want to recognize on this special day,” he added.
US consumers are expected to spend $274.02 per person for the day — the highest in the history of the NRF’s survey and up from the previous record high of $245.76 in 2022.
The top spenders are expected to come in the ages between 35-44, who are expected to spend an average of $382.26.
The most popular gifts to give on Mother’s Day are flowers and greeting cards, followed by special outings such as dinner or brunch, according to the NRF.
CURRENTPH NEWS SERVICE