Analysis by Leeds-based Savvy’s showed that, while rising prices account for some of the increase, spending is being driven up as more people plan to trade up to buy premium food and drinks to have on Mother’s Day.

Despite the full reopening of pubs, bars and restaurants, a combination of rising prices and high levels of Covid cases mean the majority of consumers, some 64 per cent, will celebrate Mother’s Day with a home cooked meal.

While more people are expected to eat out this Mother’s Day, compared to last year, high levels of Covid infections at present could lead to last-minute cancellations.

Catherine Shuttleworth, CEO and founder of Savvy, said: “As the cost of living crisis intensifies, cautious shoppers are being more selective in their spending priorities – shifting away from day-to-day treating towards making the most of occasions with friends and family.

“This record-breaking Mother’s Day follows record spending on Valentine’s Day last month and we forecast strong trade across Easter and Father’s Day in the next few months.”

Among those planning to buy gifts for their mums, around half plan to buy flowers and 42 per cent intend to buy chocolates.

As has been seen during other events over the past couple of years, a growing proportion of shoppers plan to buy a personalised gift.

Sixty five per cent of Mother’s Day shoppers are going to buy gifts online, rising to 68 per cent among those aged under 35.

Savvy’s research suggests that retailers are missing an opportunity.

Unimpressed with the usual gifting options, 67 per cent of Mother’s Day shoppers say that the products available are boring and lack inspiration.

More than half said they would happily spend more if better gifts were available.

It also found that 65 per cent of Mother’s Day buyers would like to be able to buy sustainable gifts if they were available.

However, in Savvy’s retail audits, there was found to be very little available in this particular area of retail.

Especially for younger shoppers, social media is becoming an increasingly important source of gift inspiration.

Nearly half of 18-24s expecting to buy a Mother’s Day gift they see on their social feed.

Why spending on Mother's Day gifts has soared to £1.49 billion