Economy to be good to Moms
Mothers sacrifice a lot and put themselves last most of the year, but this coming Sunday is their day to come first.
To reward them this year, Americans plan to pamper them by returning to spending levels not seen since 2008 as the economy continues to show signs of renewed life.
On average, individuals will spend $140.73 on gifts for Mother’s Day, according to a National Retail Federation survey. That’s up from $126.90 last year.
Mothers sacrifice a lot and put themselves last most of the year, but this coming Sunday is their day to come first.
To reward them this year, Americans plan to pamper them by returning to spending levels not seen since 2008 as the economy continues to show signs of renewed life.
On average, individuals will spend $140.73 on gifts for Mother’s Day, according to a National Retail Federation survey. That’s up from $126.90 last year. Total spending is expected to reach $16.3 billion for the third biggest gift-giving occasion of the year, ranked only behind Christmas and Valentine’s Day.
Electronics, such as smartphones, cameras and tablet devices, along with jewelry will be popular gifts this year, up significantly from last year. Mothers will be wearing $3 billion more jewelry after Sunday, reflecting a 19 percent increase in spending over last year.