NRF: Spending Up for Mom
By Staff -- Gifts and Dec, 4/23/2007 7:20:00 PM
Washington, DC — When Mama's happy, everybody's happy; particularly retailers. Or at least this year they will be, if the National Retail Federation's (NRF) forecast for Mother's Day sales is correct, that is.
Consumers plan to spend $15.73 billion on mom and other important women in their lives, showering them with gifts of all kinds. According to the NRF's 2007 Mother’s Day Consumer Intentions and Actions survey, conducted by BIGresearch, consumers are expected to spend an average of $139.14 on the holiday, compared to last year’s $122.16.
With nearly 85 percent of those surveyed planning to celebrate Mother's Day, a whopping 86.8 percent said they will purchase greeting cards. In dollars and cents, the study found that some 37 percent plan to spend nearly $1.6 billion on clothes and accessories, while almost 33 percent expect to pay $2.1 billion on jewelry. Seventy-two percent will pay $2.3 billion on flowers, and 61 percent of celebrants will spend $3.1 billion on a special dinner or brunch at their favorite restaurant, the study reported.
“For mom, it’s the thought that counts,” said NRF President and CEO Tracy Mullin. “As people find more creative ways to treat the women in their lives to something special, retailers of all types and sizes stand to benefit from Mother’s Day.”
Other popular gifts for the holiday include gift certificates, books or CDs, housewares or gardening tools, and consumer electronics or computer related accessories. In recent years, pampering mom with a personal service gift such as a trip to the spa or beauty salon has become a favorite gift choice, with 19.7 percent of consumers planning on dishing out $1.3 billion on these gifts. Last year, only 14.5 percent of consumers purchased this type of service for mom.
The large majority — some 37.5 percent — of gifts will be purchased at a specialty store, while almost one-quarter of consumers will shop at a discount store and and another 29 percent will head to a department store. As online shopping continues to become a favorite method, 20 percent of consumers will shop for mom online, compared with only 16.9 percent who did so last year.
Men plan to spend the most this Mother’s Day, according to the study, with the average male shopper planning to spend $172.91, compared to women’s estimated $107.18. Shoppers ages 25-34 will spend the most this year: $151.42, followed by 35–44-year-olds, who will spend $147.30. Meanwhile, 55–64-year-olds are expected to spend $138.14 and 18-24-year-olds, $137.73.
We would love your feedback!
-
UPDATE: Holiday Forecasts For All
Oct 29, 2009 -
Consumers to Spend $14 Billion on Easter
Mar 28, 2007 -
Affluent Consumers Shop Everywhere
Feb 16, 2007 -
Low Start for April Same-store Sales
Apr 18, 2007
VIEW ALL GALLERIES
