Mother’s Day is this weekend and the song says M is for the many things she gives us, M also stands for Money. Particularly, how much is being spent on Mother’s day gifts, cards and food. Recently a research report was issued that shows us how much consumers are spending on Mom this year.
• The average per household spending on Mother’s Day is nearly $170, up from roughly $150 in 2012
• 17% of consumers said they plan to spend more this year than last year on Mother’s Day. Nearly 60% said they will spend the same as last year.
• 18-24 year olds are the most likely group to say they plan to spend more. People who live in the Western US are also more likely to spend more
• 65% of consumers plan to buy gifts for their mother/step mother and nearly one in four plan to buy for their wife. 11% will be buying a Mother’s Day gift for a daughter and 9% will remember their
What Does This Mean To You?
Moms are always a great consumer group for businesses to target but so are those who are celebrating moms. Spending on Mother’s Day have generally always been on the increase. Because of the wide range of people who are given gifts to, the relatively low religious exception to the holiday and the fact that the majority of consumers have a mom makes Mother’s Day a retail, restaurant and service home run. Our next post, will detail what gifts consumers are planning to buy and where they will be shopping. For more information on connecting leveraging target audiences, please contact:
Source: National Retail Federation