If you shelled out a little extra to celebrate Mom Sunday, you’re not alone.
According to a survey by the National Retail Federation, Americans planned to spend an average of $172.63 on Mother’s Day gifts this year, the highest amount in the survey’s 12-year history.
This year’s spending average beat last year’s numbers by about $10. Total spending for the holiday this year is expected to reach $21.2 billion.
Since much of holiday spending is discretionary, the survey results could be a sign of rising confidence of consumers in their financial stability, said Kathy Grannis, spokeswoman for the National Retail Federation.
“It’s a lot easier for people to spend on gifts if they feel comfortable about their finances,” she said.
First-time applications for unemployment benefits in late April were at their lowest level in 15 years, according to the Labor Department’s weekly report. And consumer spending increased in March.
Eighty percent of shoppers said they would buy their mother a card and 67.2 percent said they would give her flowers. Gifts of clothing will total more than $1.9 billion, up from $1.7 billion last year.
Another increase is in the jewelry department, where consumers will spend a survey high of $4.3 billion, up from $3.6 billion last year.
But don’t expect the same kind of spending for Father’s Day.
Last year the average spent was about $113 for Dad, compared with $163 for Mom.
The survey was conducted for the retail group by Prosper Insights & Analytics, a business data firm, and polled 6,285 consumers in early April. The poll has a margin of error of plus or minus 1.3 percentage points.