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30 Apr 10 This Mother’s Day may witness more spending spree

As per recent two research findings of The National Retail Federation (NRF) and Brand Keys the forthcoming Mother’s Day (May 9, 2010) will witness slightly more spending ratio, as compared to 2009. NRF has predicted that this Mother’s Day people will pay $$126.90 on average, growing by 2.4% from $123.89 in 2009. Total spending is predicted to touch upon $14.6 billion, a 3.5% hike from last year.

It has been expected that 65.2% of Mother’s Day enthusiasts will purchase flowers, amounting $1.9 billion. Additional 51.8% will be dining out, spending $2.9 billion; 26.2% will be gifting jewelries, totaling $2.5 billion. Rest may indulge into purchasing clothes or its clothing accessories ($1.3 billion), gift certificates ($1.5 billion), spa services ($933 million), consumer electronics ($906 million) and greeting cards ($671 million).

Tracy Mullin, president and CEO, NRF has rightly pointed out that with improvement of the economy, consumers are looking forward to more emotionally connecting inexpensive ways to surprise their mothers and make them feel really special. Among the retail pie 30.6% of consumers may choose departmental stores this year, florists and jewelers may draw in 33.6% of consumers, and barely 30.4%, 19.7%, 6.2% and 2.5% of people may end up purchasing at discount store, online, specialty clothing store or from catalog respectively.

Most of them (62.6%) may buy gifts for their mother or stepmother, 20.6% for wife, 9.4% for daughter, 7.9% for grandmother, 7.6% for sister, 6.8% for friend and 1.7% may shop for godmother. Research says men will be spending $154.74, 57% more compared to the opposite sex.

Brand Keys strongly feels this year consumers will be spending $142 on Mother’s Day, 5% more from $135 last year. Total spending amount may reach $15 billion. It further states gifts items which will enjoy maximum attention are cards (97%), flowers (70%), gift cards (55%), clothing (36%), jewelry (25%), books (22%), spa services (15%), electronics (12%), and candy (5%). Retail outlets where consumers will be heading to are – specialty retailers (45%), discount retailers (38%), department stores (35%), online retailers (25%) and catalog retailers (20%).


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