NRF: Mother's Day spending to jump
HTT Staff -- Home Textiles Today, 4/30/2013 12:40:37 PM
Washington - Mother's Day spending is expended to climb 11% year-over-year to an average of $168.94 - for a total retail of $20.7 billion. Electronics are largely responsible for expanding family budgets for the holiday, according to the National Retail Federation.
The survey conducted by BigInsight found 14.1% - the highest in the survey's history - of shoppers this Mother's Day will spend more than $2.3 billion on electronics, up from $1.6 billion last year, and more than one-third (34.4%) of gift givers will buy jewelry, spending a total of $4.2 billion, up from $3.7 billion last year.
In addition, mothers will be treated to a special outing, such as brunch or dinner ($3.5 billion), flowers ($2.3 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).
"Budgetary constraints will keep many families on the lookout for the perfect group gift, like a new tablet or smartphone, or even that cashmere sweater they know mom has had her eye on," said BigInsight consumer insights director Pam Goodfellow.
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