NRF: Slight Dip Expected With Mother's Day SpendingThursday April 28th, 2016 - 10:44AM | | | | | | | | | | |
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Americans will again be showing the mothers in their lives much love this Mother’s Day, but may spend just a bit less on gifts this year than they did in 2015. According to the National Retail Federation’s annual survey conducted by Prosper Insights and Analytics, U.S. consumers are expected to spend an average of $172.22 on Mother’s Day gifts this year, down slightly from 2015’s record-high $172.63. According to the survey, consumers plan to spend $4.2 billion on jewelry, $4.1 billion on special outings such as dinner or brunch, $2.4 billion on flowers, $2.2 billion on gift cards, $1.9 billion respectively on clothing and consumer electronics and $1.6 billion on personal services, like a day at the spa. Greeting cards are the most commonly purchased gift at 78.4% of those surveyed but account for only $792 million of the projected spending. “It’s clear that Americans want to honor their mothers this Mother’s Day,” said Matthew Shay, NRF president and CEO. “Whether it’s a special meal at her favorite restaurant, jewelry or a new smartphone, families are planning to indulge mom again this year.” Consumers were asked for the first time about “gifts of experience” such as tickets to a concert or sporting event. According to the survey, 24.2% want to receive such a gift and 22.3% plan to give it. When searching for the perfect gift, 33% of consumers will head to department stores and 28.7% will shop at specialty stores, while 23.1% plan to shop at a local small business. But not everyone will make it to a store: 27.3% will shop online, up from 25% last year. Among smartphone owners, 29.6% will research gift ideas on their phones while 15.5% will use them to make a purchase. The survey of 7,000 consumers was conducted April 5-13 and has a margin of error of plus or minus 1.2 percentage points.
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Tags: Mother's Day • gifts • shopping • National Retail Federation • jewelry • home • Prosper Insights and Analytics • consumer • department stores • ecommerce • mobile • NRF • spending • Housewares • Retail •
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