Beauty retailers look out: Families this year are ready to splurge for Mother's Day, according to the National Retail Federation’s 2015 Mother’s Day Spending Survey conducted by Prosper Insights & Analytics.
Americans will spend an average of $173 on mom this year, up nearly $10 from $163 last year and the highest amount in the survey’s 12-year history. Total spending is expected to reach $21.2 billion.
“We’re encouraged by the positive shift we’ve seen in spending on discretionary and gift items from consumers so far this year, certainly boding well for retailers across all spectrums who are planning to promote Mother’s Day specials,” said NRF president and CEO Matthew Shay.
When it comes to gifts, 80% of consumers will pick up a greeting card for mom, spending more than $786 million. Sixty-seven percent of those celebrating will buy flowers, spending roughly $2.4 billion. Thirty-six percent of shoppers also plan on gifting apparel and clothing items, spending more than $1.9 billion, up from $1.7 billion last year.
Families will also surprise mom with a special brunch or activity ($3.8 billion), electronic items like a new smartphone or e-reader ($1.8 billion), personal services such as a spa day ($1.5 billion), housewares or gardening tools ($890 million) and books and CDs ($480 million).
Looking for a "wow" from mom, 34% of Mother’s Day shoppers are planning to splurge on jewelry, spending a survey high of $4.3 billion for the special day, up from 32% and $3.6 billion last year.
Many people know that a gift card could go a long way: 44% will give mom a gift card, spending more than $2.2 billion.
“Mother’s Day is extremely unique and personal for millions of consumers, and families this year will look for different ways to enjoy their time with mom,” said Prosper’s principal analyst Pam Goodfellow. “While some will splurge, others will search high and low for the perfect, practical gift, knowing that she likes any gift that comes from the heart.”
Where will they shop?
- 33% of shoppers will head to department stores
- 28% will shop at specialty stores
- 25% will shop at discount stores
- 25% will shop online (compared to 29% last year)
The survey shows that 18- to 24-year-olds who own smartphones and tablets are most likely to use these devices to research products and compare prices for gifts (46%), and are most likely to use their tablets to purchase a gift (30%). However, this age group won’t necessarily be the biggest spenders compared to other age groups:
- 25- to 34-year-olds plan to spend an average of $244 on mom
- 18- to 24-year-olds will spend an average of $215
The women shoppers are splurging on include:
- mother/stepmother, 63%
- wife, 23%
- daughter, 10%
- sister, 9%
- grandmother, 7%