Consumers expected to curb Mother’s Day spending

by The City Wire staff ([email protected]) 60 views 

After splurging on tablets and smartphones, beauty supplies, apparel and jewelry for mom last year, consumers this year will celebrate Mother’s Day (May 11) by keeping practicality in mind, according to the National Retail Federation.

The retail group’s Mother’s Day spending survey, conducted by Prosper Insights & Analytics, indicates Americans will spend an average of $162.94 on mom this year, down from a survey high of $168.94 last year. Total spending is expected to reach $19.9 billion.

“As one of the most universally celebrated holidays, retailers will take this opportunity to attract Mother’s Day shoppers with promotions on ladies apparel items, health and beauty products, jewelry and even restaurant options,” NRF President and CEO Matthew Shay said in a statement. “Now fully into spring, retailers are hoping consumer sentiment and spending intentions continue to grow as we round out one of the busiest retail seasons of the year and prepare for summer.”  

Most consumers will acknowledge that appreciation with a greeting card (81.3%), and two-thirds of those celebrating will buy mom her favorite flowers, spending a total of $2.3 billion, and 33.5% will look for spring sweaters and blouses, spending a total of $1.7 billion on apparel and accessory items, according to the survey.

Other key spending estimates include:
• Books and CDs — $480 million
• Housewares, gardening — $812 million
• Spa gifts — $1.5 billion
• Jewelry— $3.6 billion
• Brunch or dinner $3.8 billion.
• Consumer electronics — $1.7 billion
• Gift cards — $2.1 billion

“Americans haven’t forgotten about the state of the economy and are treating their finances and gift-giving budgets in a way that keeps practicality top of mind,” said Prosper’s Consumer Insights Director Pam Goodfellow. “But like we saw with Valentine’s Day and Easter, people this year will look for special ways to treat mom to something nice without breaking the bank, knowing it’s the thought that counts.”