CALIFORNIA BUSINESS MINUTE
Mother’s Day
05-07-10
Hi, I am Tim Johnson and welcome to the California Business Minute
The average person will spend $126.90 on Mother’s Day gifts, compared to $123.89
last year according to conducted for the National Retail Federation. Total
spending is expected to reach $14.6 billion.
As one of the biggest holidays of the year, billions will be spent at restaurants
or on clothing, jewelry and flowers. Nearly two-thirds (65.2%) of celebrants will
buy flowers, totaling $1.9 billion. An additional 51.8 percent will treat mom to
a brunch or dinner, spending $2.9 billion on mom’s favorite food. Jewelers will
also see some traffic this year with 26.2 percent of people planning on buying a
special bracelet or earring set, totaling $2.5 billion. Others will buy clothing
or clothing accessories ($1.3 billion), gift certificates ($1.5 billion), personal
service such as a day at the spa ($933 million), consumer electronics ($906 million)
and greeting cards ($671 million).
“Even with slight improvements in the economy, consumers are still looking for unique,
sentimental and inexpensive ways to show mom that she is important,” said Tracy Mullin,
President and CEO, NRF. “Retailers and restaurants will have an array of gift options
for people to choose from, ranging from small flower bouquets to brunch and dinner
promotions for the entire family to enjoy.”
Marking a noticeable shift in where people will buy Mother’s Day gifts this year,
one-third (30.6%) will head to department stores, compared to 27.2 percent last year.
Specialty stores such as florists or jewelers will see the most traffic, however
(33.6%). Others will shop at a discount store (30.4%), online (19.7%), specialty
clothing store (6.2%) or catalog (2.5%).
Enjoy your mother and to all mom's - enjoy Mother's Day!
I am Tim Johnson and this has been the California Business Minute.
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