The National Retail Federation is citing BIGinsight data to make the prediction that the average person celebrating Mother’s Day in 2012 will spend about $12 more than they did last year to more than $150, generating $18.6B for American businesses. NRF notes that the holiday will extend a spring time spending spree.
“Despite grappling with high gas prices, Americans will look for sentimental and unique ways to shower mom with affection this year,” said NRF President and CEO Matthew Shay. “As one of the most important holidays of the year, consumers can expect to see a wide range of promotions from mom’s favorite retailers leading up to the big day, including savings on apparel and electronics and even special Mother’s Day menu options at restaurants.”
According to BIGinsight, the precise figures of the per-person spending increase are
$152.52, compared to $140.73 in 2011.
Categories on American shopping lists include:
* Flowers, 66.4%, $2.2B total expenditure
* Clothing/accessories, 32.8%, $1.6B total expenditure
* Electronics, 12.7%, $1.6B total expenditure
* Eating out, 54.3%, $3.4B total expenditure
* Gift cards, $1.8B total expenditure
* Personal services, $1.3B total expenditure
“While still very mindful of their finances, consumers will open their wallets a little more this year to ensure Mother’s Day is extra special for the women in their lives” said BIGinsight Executive Vice President Phil Rist. “Many will use the opportunity to comparison shop and research products to save a few bucks, utilizing their mobile and tablet devices at home and in stores as they look for gifts and other ways to celebrate.”
This is one holiday where advertising aimed at men may pay off more than usual. The average expenditure from men will be $189.74, compared to only $117.42 for women.