A Where, What, and Who Primer for Mother’s Day Spending
You can see we are spending more on Mom. Projected to climb this year, per person Mother’s Day spending has steadily increased:
But there is much more.
Mother’s Day Spending
The following statistics are based on an April 1-April 11, 2022 survey with 8,574 participants that were older than 18.
Through a regional lens, we see the Northeast and South spending the most for mom:
While most of us will buy a greeting card, we don’t stop there. It could be accompanied by flowers and a special outing:
As we get older, our Mother’s Day spending declines:
Our Bottom Line: Consumption Expenditures
Propelling the GDP skyward, the American consumer had made the consumption expenditures category of the GDP, by far its largest. At 70 percent of GDP, consumption tops Gross Investment at 18 percent, government spending, 17 percent, and net exports, a minus 5 percent:
Projected 2022 Mother’s Day spending will primarily add to the nondurables and services components of the GDP. Mother’s Day goods that last three years or less like cards and flowers are in the nondurables consumption category. Somewhat similarly, our outings and massages are recorded as GDP services.
Originally published at https://econlife.com on May 8, 2022.