DAYTON, Ohio -- A market research firm predicts that spending on Mother's Day will rise 3 percent nationwide, reaching $18.1 billion, as consumers benefit from an improving economy to pamper their mothers, wives, sisters and friends with children.
The average household will spend a projected $156.60 on Mother's Day-related purchases, according to IBISWorld, a Los Angeles-based industry and market research firm. Jewelry, dining out at restaurants and flowers will remain the most popular gifts, although gift certificates and electronics will gain traction among time-crunched shoppers looking to buy gifts online or at the last minute, IBISWorld officials said in a news release.
Spending on jewelry, flowers, and restaurant visits is expected to account for nearly half of all purchases this Mother's Day, while sales of greeting cards are expected to drop slightly as consumers turn increasingly to e-cards, email and social networks to send holiday messages. Mother's Day is the second-highest-grossing holiday after Christmas, IBISWorld officials said.