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On May 7, 2009. By Fran, under Industry News.
Big Love, Less Gifts: Mother’s Day Softer Sales
According to NRF’s 2009 Mother’s Day Consumer Intentions and Actions Survey, Americans will spend an average of $123.89 per person, compared to last year’s $138.63. Total Mother’s Day spending is expected to reach $14.10 billion, which is slightly more than Easter.
Of the four in five Americans (83.3%) who will celebrate Mother’s Day, most people (62.4%) will purchase gifts for their mother and stepmother or wife (21.7%) and scale back on gifts for daughters (8.8% vs. 9.4% in 2008), friends (6.8% vs. 7.1% in 2008) and godmothers (1.6% vs. 2.1% in 2008) in order to save some money.
Retailers understand that people are on strict budgets, even for important holidays. Budget-friendly gift ideas will abound this Mother’s Day but less than the usual for this holiday.
The breakdown of Mom’s gift giving:
$1.9 billion in floral sales
$2.7 billion for special outings such as dinner or brunch
$2.4 billion on jewelry
$1.5 billion in gift card sales
$1.2 billion on apparel
$1.1 million for spa and personal services
$857 million on electronics
$587 million for house wares and garden
$487 for books or CD’s
“No one will forget celebrating Mother’s Day because of the bad economy, but they will put careful thought into what they buy and how much they spend this year.” –Industry insider
Considering our nation is feeling the effects of our current economic issues, Mom still gets VIP treatment. Maybe not every special lady will be showered with flowers, candy and diamonds come this Sunday, but that’s why we love her so. Who, understands more the old adage- it’s the thought that counts, then the value of a dollar, like good old Mom.
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