Study Forecasts Mother's Day Spending to Fall Over 10%
The National Retail Federation new study conducted by BIGresearch has found that Mother's Day spending is expected to fall by over 10%. The NRF says Americans will spend an average of $123.89 per person, compared to last year's $138.63. Mother's Day is Sunday, May 10, 2009.
Phil Rist, an executive vice president at BIGresearch, says, "No one will forgo celebrating Mother's Day because of the bad economy, but they will put careful thought into what they buy and how much they spend. Moms will understand that kids may be spending on a budget, so inexpensive, personal gifts will go a long way."
Of the four in five Americans (83.3%) who will celebrate Mother’s Day, the majority will focus on the women with whom they are closest. Most people (62.4%) will purchase gifts for their mother/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," said NRF President and CEO Tracy Mullin. "Budget-friendly gift ideas will abound this Mother’s Day: discounted digital cameras, books and apparel still show mom how much she is appreciated."
The majority of people (66.8%) will buy flowers for mom, spending a total of $1.9 billion on those purchases. Slightly more than half (54.8%) will treat mom to a special outing such as dinner or brunch, for a total of $2.7 billion. Other comonly purchased items include jewelry, gift cards, clothing, fashion accessories, books, cds and spa gifts.
The National Retail Federation new study conducted by BIGresearch has found that Mother's Day spending is expected to fall by over 10%. The NRF says Americans will spend an average of $123.89 per person, compared to last year's $138.63. Mother's Day is Sunday, May 10, 2009.
