Mothers deserve lots of props, and retail spending forecasts for Mother’s Day indicate that their loved ones feel that way too. The average consumer will spend $168.94 for Mother's Day, an 11% jump from last year, according to estimates from the National Retail Federation. Total spending on Mother's Day gifts and outings will reach nearly $20.7 billion, up from last year’s total of over $17 billion.
At Yahoo!, we’re already seeing lots of Mother’s Day activity from advertisers on the search and display sides. That’s no surprise, based on our metrics from last year:
- Half of Yahoo! visitors shopped for Mother’s Day last year; 47% searched online for gift ideas
- 44% of Yahoo! shoppers spent more than $50 on Mother’s Day gifts last year
- 2.5 million Yahoo! visitors bought flowers, cards and gifts online, spending $160 million*
This year, the NRF forecasts that increased Mother’s Day spending will be driven by younger consumers, according to the NRF and a survey by BIGinsight:
- 36% of consumers aged 18-to-24 will increase their average spend this year
- 26% of consumers aged 25-to-34 said the same
The record amount of Mother's Day spending will be fueled by more purchases of expensive gifts than last year, according to the NRF:
- 14% will buy consumer electronics, totaling an estimated $2.3 billion
- 34% will buy jewelry, for an estimated $4.2 in spending
Simpler, less expensive gifts are still a hot ticket. In fact, a recent survey survey by ShopAtHome.com found 52% of moms expect a gift that costs less than $30. Apparel, flower arrangements, gift cards (which 23% of moms say they favor over traditional gifts) and household items will all remain strong sellers. NRF data also indicated that consumers will spend $3.5 billion on brunch or dinner, and $1.5 billion will go toward treating mom to a spa day.
It’s not just moms that consumers are buying for on Mother’s Day. The NRF survey found they’re also purchasing gifts to give wives (24%), daughters (10%), grandmothers (8%), and sisters (8%).
The forecasted increase in spending for Mother’s Day is good news for moms, and for online retailers too. Don’t forget that Father’s Day is just around the corner. Record retail spending is predicted for that holiday, too.
* Sources: Brand Keys Mother’s Day survey, June 2012; Yahoo! Yodeler’s, May 2012; and Yahoo! Yodeler’s Mother’s Day Survey, May 2012