NRF: Discounts Driving Mother’s Day Spending
by Christina Lee on April 16th, 2009
What this year’s most popular Mother’s Days gifts will have in common: slashed price tags to best fit smaller budgets.
“Discounted digital cameras, books and apparel still show mom how much she is appreciated,” said Tracy Mullin, president of the National Retail Federation.
For the first time since 2006, U.S. consumers are also choosing discount stores over department stores. However, the specialty store remains their top destination, according a survey conducted by the D.C.-based trade group and BIGresearch.
“No one will forgo celebrating Mother’s Day because of the bad economy, but they will put careful thought into what they buy and how much they spend,” said Phil Rist, BIGresearch’s executive vice-president of strategic research.
But for the most part, traditionally popular gifts remain mainstay options for this year’s consumers. More than 66 percent of consumers plan to buy flowers, if not a special meal (54.8 percent) or jewelry (27.8 percent).
Total Mother’s Day spending is expected to reach $14.1 billion, as individual spending averages to $123.89 – $14.72 less than what they spent last year. Mother’s Day spending had also fallen in 2008, mainly due to rising gas prices.
Readers, what Mother’s Day gifts are you promoting this year?