Mother's Day 2013: $20.7 Billion To be Spent on Moms This Year
Mother's Day is this weekend and if you haven't yet picked out something to get your mom, here's your chance to have the moral high ground. According to the National Retail Federation, Mother's Day spending is up a whopping 11% from last year's average of $152.52, with total spending in the United States expected to reach $20.7 billion.
"It’s clear that Americans this year want to honor the woman with the hardest job in the world with unique and special gifts this Mother's Day," said NRF President and CEO Matthew Shay on the expected average of $168.94 on moms this year.
(Disclaimer: mom, if you're reading this, I will not be spending $168.94 but that does not mean I don't love you worth $20.7 billion. Or more.)
"After a long winter that kept many from splurging on any new spring merchandise, retailers are looking forward to opening their doors and surprising shoppers with promotions that are perfect for any gardener, host, fashionista, or tech-savvy mom."
Let's think about this for a second: are all moms either gardeners, hosts, fashionistas or tech-savvy? Aparently this year will see 14.1% of buyers gifting electronics (the highest percentage ever) spending $2.3 billion, which is also the same amount to be spent on flowers.
Can't this just mean that technology, specifically personal electronics, has infiltrated our lives and are far more durable than flowers? For one, I expect my mom would be happy to tell you she is none of those things and yet enjoys all of those types of presents. I mean, come on, marketing profilers.
Other ways Mom will be celebrated include brunch or dinner ($3.5 billion), gift cards ($2.0 billion), clothing or clothing accessories ($1.7 billion), and personal service gifts, such as a day at the spa ($1.5 billion).
This is particularly fascinating, given that 36% of moms surveyed by the NRF said they prefered something handmade. If a third of moms want something that we make with love and Elmers' Glue, how are we possibly spending more on Mothers' Day this year than ever before?
Tell me what you're getting your mom for Mother's Day in the comments below or on Twitter @shwetika.