Mother’s Day is just a few weeks away and a recent study suggests that business owners can expect a nice bump is sales as a result. An annual survey by the National Retail Federation predicted that consumers will spend a near-record $23.1 Billion on Mother’s Day related spending.
The NRF study is based on a survey of more than 7,500 U.S. consumers who were asked about their Mother’s Day spending plans. According to the survey, a total 86 percent of Americans will celebrate Mother’s Day and will spend an average of $180 per person.
If the NRF’s estimates are accurate, the spending would be second only to 2017’s $23.6 billion, which was the highest in the 15-year history of the survey. In the end, people are only expecting to spend a little less. In 2017, the average spend was $186 per person, a difference of only $6..
“This year’s Mother’s Day forecast is one of the strongest we’ve ever seen,” NRF President and CEO Matthew Shay said in a released statement. “With spring in full bloom, Americans are looking forward to splurging on their mothers and retailers are prepared to offer a variety of options that will allow consumers to find the perfect gift for the occasion.”
As one would expect, Mother’s Day will a higher increase in jewelry sales than in sports equipment, but the NRF study shows that many different kinds of retailers will benefit from the Mother’s Day shopping incentive.
According to the survey, consumers plan to spend $4.6 billion on jewelry (purchased by 34 percent of shoppers), $4.4 billion on special outings such as dinner or brunch (55 percent) and $2.6 billion on flowers (69 percent). In addition, $2.5 billion will be spent on gift cards (45 percent), $2.1 billion on clothing (36 percent), $2.1 billion on consumer electronics (14 percent) and $1.8 billion on personal services such as a spa day (24 percent). Another $956 million will be spent on housewares or gardening tools (19 percent), $813 million on greeting cards (77 percent) and $494 million on books or music (19 percent).
The study also showed a growing interest in getting services as gifts. The survey found 29 percent want to receive a “gift of experience” such as a spa day, tickets to a concert or gym membership while 26 percent plan to give such a gift. Nearly half (45 percent of those surveyed) of the shoppers between the ages of 18 and 34 gave gifts of experience, the highest percentage of any age group.
Individuals between the ages of 35-44 will be the biggest spenders this year at an average $224, according to the survey. Reaching these big spenders will require a mixture of marketing and advertising methods. Relying on smartphone shoppers will leave out a lot of people. According to the NRF, 18-24 year olds were the most likely to use a smartphone to shop, and even more than a third of them don’t use smartphones (38 percent).
The NRF survey showed a lot of variety for how consumers will do their Mother’s Day shopping. The researchers found that when searching for gifts, 35 percent of consumers will head to department stores and 31 percent will shop online, while 29 percent plan to shop at specialty stores such as florists, jewelers or electronics stores. Meanwhile, 23 percent plan to shop at a local small business, 22 percent at discount stores and 10 percent at specialty clothing stores.
Mother’s Day is just a few weeks away so there’s still time to plan a social media, email, PPC or other marketing campaign to reach shoppers who are looking for a great deal for their mom. For more information to help marketers, check out this article on the best times to post on social media.