Mother's Day Spending On Track To Decrease
NRF puts it down 10 percent compared to last year
Mothers have it rough. First they've got to turn into whales over the course of nine months. Next they go through an extremely painful elimination process. Then there's an 18-year-long period of changing diapers, wiping away tears, and shelling out money. And unfortunately for both moms and small business owners, Mother's Day spending is expected to go down this year.
A National Retail Federation survey (conducted by BIGresearch) found that, last year, Americans spent an average of $138.63 per person. This year, they're more inclined to spend $123.89, which represents a decrease of about 10.6 percent.
Phil Rist, BIGResearch's Executive Vice President, Strategic Initiatives, observed as a result, "No one will forgo celebrating Mother's Day because of the bad economy, but they will put careful thought into what they buy and how much they spend."
So if you're looking to sell Mother's Day-related products, consider concentrating on stuff that's more likely to elicit an "awww" than a "wow." An option to personalize something, whether that involves picking color combinations or getting it engraved, might make sales increase even more.
As for some focused ideas, an NRF statement reported, "The majority of people (66.8%) will buy flowers for mom, spending a total of $1.9 billion on those purchases. Slightly more than half (54.8%) will treat mom to a special outing such as dinner or brunch, for a total of $2.7 billion. People will also spend $2.3 billion on jewelry, $1.5 billion on gift cards, $1.2 billion on clothing or clothing accessories, and $1.1 million on personal services such as a day at the spa."
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