Consumers Shop ‘Til They Drop This Mother’s Day
Moms aren’t the only folks expected to do well this Mother’s Day – retailers are too! From jewelry to flowers and gift cards to brunch and apparel, consumer spending is projected to break some pretty impressive records this year. In fact, the National Retail Federation (NRF) estimates that the average amount spent on mom will be $172.63, the highest amount ever recorded in the 12-year history of the NRF’s Mother’s Day Spending Survey.
“We’re encouraged by the positive shift we’ve seen in spending on discretionary and gift items from consumers so far this year, certainly boding well for retailers across all spectrums who are planning to promote Mother’s Day specials, including home improvement, jewelry, apparel and other specialty retailers as well as restaurants,” NRF President and CEO Matthew Shay said in the report.
As a holiday that marks all ethnicities, cultures, and religions, this presents a huge marketing opportunity for retailers – with advertisers eager to grab a piece of the almost $21.2 billion Americans are expected to spend. More so, the survey found that 25% of consumers are expected to be doing their shopping online – which means retailers need to be on their digital A-game to keep up with consumer trends. To ensure you’re capturing your consumers’ cash, check out this infographic to see where they’re spending and what’s trending.