Article

NRF: Consumer spending on moms to skyrocket

Consumers will spend more than $20 billion on their moms this Mother's Day.

May 7, 2015 by Josh Fischer — Editor, NetWorld

Consumers are getting ready to spend money on their moms at unprecedented levels, nearly $20 billion according to the annual Brand Keys Mother's Day survey. The 2015 forecast, which polled 6,000 men and women, is a 5-percent increase for the 87 percent of consumers, who celebrate the holiday.

"More-and-more, Mother's Day encompasses a broader spectrum of relationships as it's become a universal holiday," Robert Passikoff, president of Brand Keys, said in a statement. "It embraces everyone from moms to wives to step-moms to female relatives, to female friends, and divorced and single-parent households. This holiday crosses all ethnic, cultural, and religious boundaries, which makes it a real opportunity for retailers an occasion nearly everyone can celebrate."

The Brand Keys survey said celebrants intend to spend an average of $193 on mom this year. Men are to spend more than women with the survey reporting an average expenditure of $215 from men and $161 from women.

Americans will spend an average of $172.63 on mom this year, up nearly $10 from $162.94 last year, according to the National Retail Federation's 2015 Mother's Day Spending Survey, which polled 6,285 consumers. Total spending is expected to reach $21.2 billion, the highest amount in the survey's 12-year history.

"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," Matthew Shay, NRF president and CEO, said in a release.

What moms want

The NRF also ranked the gifts moms will likely receive and found that the majority of consumers will pick up greeting cards for mom (80 percent), spending more than $786 million on them. Spending on jewelry is anticipated to surge to $4.3 billion, up from 2014's spending mark of $3.6 billion, and shoppers will spend $2.4 billion on flowers and $1.9 billion on apparel. Brand Keys found similar info, finding that 95 percent of consumers will buy cards, 88 percent will spend on eating out and 86 percent will  buy flowers.

The NRF survey also found that families will take mom to brunch, spending $3.8 billion, or surprising mom with technology, a smartphone or e-reader for example, spending $1.8 billion on electronic gadgets.

Where are people shopping?

One in four will shop online for their Mother's Day gifts, according to the NRF, which found that online shoppers plan to spend an average $252, which is higher than the typical Mother's Day shopper. NRF research also found more than four in 10 consumers plan to use smartphones to research products and compare prices. Similarly, Brand Keys found that 30 percent of shoppers will buy for mom online but also found the following:

• 55 percent of consumers will shop at discount stores.
• 50 percent will visit specialty stores.
• 50 percent will rely on department stores.
• And 6 percent will buy via catalog.

Photo courtesy of Pixabay

About Josh Fischer

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Josh Fischer has worked in retail, marketing and communications for over 15 years. His creative writing has appeared in the Miracle Monocle and Juked.

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