Women are more likely to purchase gifts for a broader range of recipients, including sisters and stepmoms
Analysis from the National Retail Federation shows that millennials have the largest budget for Mother’s Day tomorrow, with spending expected to hit a record $38 billion.
According to NRF Chief Economist Mark Mathews, the total expected spending brings individual shoppers’ budgets to an average of $284.25 this year.
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Men are expected to be the biggest spenders, budgeting an average of $346 per person.
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Women plan to spend approximately $225 but are more likely to purchase gifts for a broader range of recipients, including sisters and stepmoms.
Millennials continue to lead with the largest budgets. Along with Gen Z, they have a strong preference for gifting experiences, such as concerts or sporting events.
Higher-income households show the largest increases, while middle- and lower-income consumers are also expanding their budgets.
Many are shopping at discount stores to maximize their reach.
Overall, the data suggests a universal desire to celebrate mothers regardless of economic pressures.