The average person celebrating Mother’s Day is expected to spend $152.52 on gifts, up from $140.73 last year, according to the National Retail Federation’s 2012 Mother’s Day consumer spending survey conducted by BIGinsight. Total spending is expected to reach $18.6 billion.
More than 60 percent of consumers polled will buy flowers, spending a total of $2.2 billion, and nearly one-third will spend $1.6 billion on clothing and accessories. More than half of the respondents said they would treat their mothers to a nice dinner or brunch, spending $3.4 billion.
“I haven’t noticed much traffic yet. Usually people come in closer to the holiday,” says Frank D. Goodale, owner of F.D. Goodale Jeweler in Camden, S.C. “Mother’s day is a personal holiday, so I typically see customers buying pieces that have meaning. The husband in the family often buys jewelry for his children to give their mother.”
Bruce Watters, Inc., located in St. Petersburg, Fla., hands out roses to any mother who walks into the store. “This year, I predict that we will sell a lot of sterling silver due to the economy and high price of gold,” says owner Bruce W. Watters. “A lot of manufacturers have started to substitute silver into their pieces.”
“For Mother’s Day, we always run a promotion that offers discounts on pearls,” says Lee W. Hauser, owner of Hauser’s Jewelers in Newport News, Va. “Business has been up in comparison to last year, however, I think that people are still nervous about the economy, and therefore are afraid to spend a lot.”
Other highlights from the NRF survey:
- Consumers will spend $1.8 billion on gift cards and $1.3 billion on personal services such as a trip to a day spa.
- Two-thirds of gift buyers will shop at a department store.
- More than 30 percent of shoppers will head to discount stores.
- More than 36 percent said they would visit specialty stores including jewelers, florists, and electronics stores.
- One-quarter of respondents said they would buy their gifts online, up from 21.5 percent last year.
- Men will spend an average of $189.74 on the women in their life this Mother’s Day, compared to the $117.42 women will spend.