Americans are expected to spend nearly $21 billion on their moms this Sunday, or an average of $168.94 per mom, according to the National Retail Federation’s Mother’s Day spending survey. Mother’s Day ranks third behind Christmas and Valentine’s Day in terms of holiday spending (Father’s Day comes in fifth). The Census Bureau estimates that there are 85.4 million moms in the U.S.

Flowers and cards are popular Mother’s Day gifts and a majority of moms are treated to brunch and dinner too. The National Restaurant Association projects that more than one-quarter of American adults -- nearly 80 million people -- will celebrate Mother's Day by eating out.

Related: The World's Richest Moms

Hooters, the Atlanta-based chain best-known for its scantily-clad waitresses, is trying to broaden its customer base to include more females, and of course, moms. The restaurant’s 430 locations will offer moms a free drink and entrée (up to $10) for Mother’s Day dinner. (Last year Hooters gave away free chicken wings to 15,000 moms). Dave Henninger, Hooters’ chief marketing officer, told USA Today that he expects more than 20,000 moms will dine at a Hooters this Sunday.

“Hooters is in search of a growth strategy,” The Daily Ticker’s Henry Blodget says in the accompanying video. “But when I think of a family restaurant, Hooters is not the first one that comes to mind.”

Yet Hooters has been able to weather the economic downturn better than its more family-friendly competitors such as Applebee’s and The Cheesecake Factory (CAKE), says Yahoo! Finance’s Jeff Macke.

“So maybe the family has been redefined," Macke argues. "Maybe this is what Mother’s Day is."

The Daily Ticker Presents: Generation I.O.U.

Yahoo! Finance, Yahoo! News and The Daily Ticker are teaming up to produce a special live streaming event on May 23 at 12:30 pm ET around the rising cost of college.

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