Mother's Day Spending to Reach $15.8 Billion for 2008

May 5, 2008

Source: The Merchandise Group


asdamd/photos/stylus/25194-MothersDay.jpg
With Mother's Day right around the corner, May 11, 2008; shoppers are gearing up for the upcoming holiday. To assist retailers of all sizes, the National Retail Federation (NRF) recently released its 2008 Mother’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, showcasing positive results for the holiday. The survey was held April 1-8, 2008 with approximately 8,180 consumers, detailing their shopping habits for Mother's Day.

According to the survey, 84.2 percent of consumers will celebrate Mother's Day in 2008, and spending will reach $15.8 billion. On average, consumers will spend $138.63 this year, a slight decrease of 51 cents, compared to $139.14 in 2007. Demographics will affect the amount purchased on mom's behalf. Young adults 18-24 will spend the most, with $170.71; while 25-34-year-olds will spend $153.17, and those in the 35-44 age range will spend $145.86.

Spending in some categories, such as jewelry, is expected to increase greatly (from $2.1 billion last year, to $2.7 billion this year), with the most popular spending categories shaping up as follows:

-$3 billion for dinner or brunch.
-$2.7 billion for jewelry.
-$2 billion on flowers.
-$1.6 billion on gift cards/gift certificates.
-$1.4 billion for clothing and accessories.
-$1.2 billion on consumer electronics, such as digital and video cameras.
-$1.1 billion on personal service gifts (example: spa or salon).
-$696 million on housewares and gardening.
-$672 million on greeting cards.

Then, consumers will purchase these gifts at the following stores:

-35 percent at specialty stores.
-28.8 percent will visit department stores.
-25.7 percent at discount locations.
-18.3 percent will shop online.
-6.6 percent will shop at specialty clothing stores.
-3.4 percent will use catalogs for shopping purposes.

“Consumers will be very cautious with their wallets this Mother’s Day, heeding mom’s advice that she really doesn’t need much,” said Phil Rist, BIGresearch vice president of strategy. “Gas prices and other economic issues will still be at the forefront of people’s minds as they shop around for the perfect gift for mom.”

The survey results provide small and large retailers alike an opportunity to capture Mother's Day shoppers. Some ideas to kick Mother's Day into high gear for your business include:

-Preparing specially designed Mother's Day gift certificates or plastic gift cards to capture a portion of the $1.6 million being spent in this category.
-Developing Mother's Day gift baskets for shoppers, to appeal to the $1.1 billion being spent on personal service and spa items.
-Showcase jewelry on counter and in-store displays to catch customer attention.

In preparation for the impending holiday, retailers can use the National Retail Federation's survey results to further expand their sales capacity for Mother's Day 2008.

Mother's Day Spending to Reach $15.8 Billion for 2008

May 5, 2008


Source: The Merchandise Group

asdamd/photos/stylus/25194-MothersDay.jpg

With Mother's Day right around the corner, May 11, 2008; shoppers are gearing up for the upcoming holiday. To assist retailers of all sizes, the National Retail Federation (NRF) recently released its 2008 Mother’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, showcasing positive results for the holiday. The survey was held April 1-8, 2008 with approximately 8,180 consumers, detailing their shopping habits for Mother's Day.

According to the survey, 84.2 percent of consumers will celebrate Mother's Day in 2008, and spending will reach $15.8 billion. On average, consumers will spend $138.63 this year, a slight decrease of 51 cents, compared to $139.14 in 2007. Demographics will affect the amount purchased on mom's behalf. Young adults 18-24 will spend the most, with $170.71; while 25-34-year-olds will spend $153.17, and those in the 35-44 age range will spend $145.86.

Spending in some categories, such as jewelry, is expected to increase greatly (from $2.1 billion last year, to $2.7 billion this year), with the most popular spending categories shaping up as follows:

-$3 billion for dinner or brunch.
-$2.7 billion for jewelry.
-$2 billion on flowers.
-$1.6 billion on gift cards/gift certificates.
-$1.4 billion for clothing and accessories.
-$1.2 billion on consumer electronics, such as digital and video cameras.
-$1.1 billion on personal service gifts (example: spa or salon).
-$696 million on housewares and gardening.
-$672 million on greeting cards.

Then, consumers will purchase these gifts at the following stores:

-35 percent at specialty stores.
-28.8 percent will visit department stores.
-25.7 percent at discount locations.
-18.3 percent will shop online.
-6.6 percent will shop at specialty clothing stores.
-3.4 percent will use catalogs for shopping purposes.

“Consumers will be very cautious with their wallets this Mother’s Day, heeding mom’s advice that she really doesn’t need much,” said Phil Rist, BIGresearch vice president of strategy. “Gas prices and other economic issues will still be at the forefront of people’s minds as they shop around for the perfect gift for mom.”

The survey results provide small and large retailers alike an opportunity to capture Mother's Day shoppers. Some ideas to kick Mother's Day into high gear for your business include:

-Preparing specially designed Mother's Day gift certificates or plastic gift cards to capture a portion of the $1.6 million being spent in this category.
-Developing Mother's Day gift baskets for shoppers, to appeal to the $1.1 billion being spent on personal service and spa items.
-Showcase jewelry on counter and in-store displays to catch customer attention.

In preparation for the impending holiday, retailers can use the National Retail Federation's survey results to further expand their sales capacity for Mother's Day 2008.