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Consumers to spend more on mom: NRF


April 23, 2010
By Amanda Ryder


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mothersday1NEWS HIGHLIGHT

Consumers to spend
more on mom: NRF

Having spent slightly more on Valentine’s Day, Easter
and even St. Patrick’s Day this year, consumers are continuing the
trend and will spend a little bit more on mommy dearest as well,
according to the National Retail Federation

April 23, 2010 – Having spent slightly more on Valentine’s Day, Easter and even St.
Patrick’s Day this year, consumers are continuing the trend and will
spend a little bit more on mommy dearest as well. Behind the winter
holidays (Christmas, Hanukah and Kwanza), Mother’s Day is the second
largest U.S. consumer spending holiday. NRF’s 2010 Mother’s Day
Consumer Intentions and Actions Survey, conducted by BIGresearch, found
the average person will shell out $126.90 on Mother’s Day gifts,
compared to $123.89 last year. Total spending is expected to reach
$14.6 billion.
 
As one of the biggest holidays of the year, billions will be spent at
restaurants or on clothing, jewelry and flowers. Nearly two-thirds
(65.2 per cent) of celebrants will buy flowers, totaling $1.9 billion.
An additional 51.8 per cent will treat mom to a brunch or dinner,
spending $2.9 billion on mom’s favorite food. Jewelers will also see
some traffic this year with 26.2 per cent of people planning on buying
a special bracelet or earring set, totaling $2.5 billion. Others will
buy clothing or clothing accessories ($1.3 billion), gift certificates
($1.5 billion), personal service such as a day at the spa ($933
million), consumer electronics ($906 million) and greeting cards ($671
million).
 
“Even with slight improvements in the economy, consumers are still
looking for unique, sentimental and inexpensive ways to show mom that
she is important,” said Tracy Mullin, President and CEO, NRF.
“Retailers and restaurants will have an array of gift options for
people to choose from, ranging from small flower bouquets to brunch and
dinner promotions for the entire family to enjoy.”
 
Marking a noticeable shift in where people will buy Mother’s Day gifts
this year, one-third (30.6 per cent) will head to department stores,
compared to 27.2 per cent last year. Specialty stores such as florists
or jewelers will see the most traffic, however (33.6 per cent). Others
will shop at a discount store (30.4 per cent), online (19.7 per cent),
specialty clothing store (6.2 per cent) or catalog (2.5 per cent).
 
Of the 83.3 percent of Americans celebrating the holiday this year,
most will focus on buying a gift for their mom or stepmom (62.6 per
cent) or wife (20.6 per cent). Others will treat their daughter (9.4
per cent), grandmother (7.9 per cent), sister (7.6 per cent), friend
(6.8 per cent) or godmother (1.7 per cent) to something nice.
 
“For some, mom is the glue that holds the family together,” said Phil
Rist, Executive Vice President, Strategic Initiatives, BIGresearch.
“After a few years of cutting back on their discretionary spending,
consumers will open up their wallets a little bit more to celebrate the
woman with the most important job in the world.”
 
Men will spend much more than women on Mother’s Day, shelling out an
average of $154.74, compared to women who will spend an average of
$100.46. Adults 25-34 years old will spend the most with the average
person expected to spend $156.84; young adults will spend only slightly
less at $155.52 average per person.

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