Finally, there is some good news for retailers. Mother’s Day 2017 is expected to generate about 10 percent more in retail revenues than in 2016.
As reported by Ana Serafin Smith for the National Retail Federation:
“Consumers say they will spend more than ever on Mother’s Day this year as they shower moms with everything from jewelry to special outings at favorite restaurants, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. ‘Consumers are planning to open up their wallets a little bit more to celebrate the women with the most important jobs in the world on Mother’s Day. We will see older Millennials (25-34) spend the most, and younger consumers are putting their online shopping skills to good use to purchase their moms the perfect gift,’ Prosper analyst Pam Goodfellow said.”
“When searching for the perfect gift, 35 percent of consumers will head to department stores and 31 percent will shop at specialty stores such as florists, jewelers, or electronics stores, while 24 percent plan to shop at a local small business. Meanwhile, 30 percent will shop online, up from 27 percent last year. Among smartphone owners, 34 percent will research gift ideas on their phones while 19 percent will use them to make a purchase.”
Click the chart to read more.
Also, check out this video from the NRF.
