CALIFORNIA — U.S. consumers will spend $38 billion on Mother's Day this year, an 11% increase from last year, according to a forecast by the National Retail Federation. The forecast is based on a survey indicating that most shoppers will buy flowers and cards, while some plan to buy jewelry, clothes, and electronics.
Mother's Day is the busiest day of the year for U.S. restaurants overall and one of the biggest days for florists, second only to Valentine's Day. It is also one of the biggest days for greeting-card sellers.
Reservations platform Resy reported that bookings as of Wednesday were up nearly 30% compared with the same time frame last year. OpenTable reported that its reservations were trending up by double digits compared with last year.
The cost of dining out was up 3.8% in March compared with a year ago, rising at roughly twice the rate of grocery prices. The price of flowers and plants increased by 7.5%, and the cost of jewelry increased by 9.9%.
"If you really want to show mom that love and TLC, you can whip up a pretty nice buffet at home for a lot less money than going out for that classic brunch," said Michael Swanson, chief agricultural economist at Wells Fargo, who tracks food prices. Swanson's daughters plan to make an egg bake for their mother at home on Mother's Day, while their father will buy flowers.
Retail egg prices were down nearly 45% in March compared with a year ago, and wholesale egg prices have dropped by even more over the same period. The price of beef was up more than 12% in March from a year ago, while chicken and pork prices have remained flat.
At Broken Yolk Cafe, eggs are used in three-quarters of the dishes served. "But holidays have still been pretty strong," said Ed Powers, director of operations at Broken Yolk Cafe.
Two-thirds of florists expect Mother's Day sales to increase or remain steady this year, and many are offering cheaper grab-and-go bouquets and smaller arrangements. The National Retail Federation survey also found that flowers remain the most commonly purchased gift category for the holiday.
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