Thursday, 10 May 2018 15:11

Near-Record Breaking Spending Expected as Consumers Celebrate Mother's Day

For Immediate Release: May 7, 2018
CONTACT: James Miller, This email address is being protected from spambots. You need JavaScript enabled to view it., (850)701-3015

Second highest spending amount ever expected this year as families splurge on moms with jewelry, meals, flowers and clothing the most popular options

TALLAHASSEE, FL – The Florida Retail Federation (FRF), the state’s premier trade association representing retailers for over 80 years, says Florida mothers will be showered with gifts from their family members this year, as spending for Mother’s Day is expected to reach $180 per person. This is down slightly from last year’s record high of $186 per person. Total spending nationwide is expected to surpass $23.1 billion, once again the second highest in survey history with more than 86 percent of Americans celebrating.

“Mothers play such a vital role in our society, and it’s wonderful to see that they’ll be receiving plenty of gifts this year as people feel more and more comfortable with their own finances,” said FRF President & CEO R. Scott Shalley. “A healthy economy with more Floridians employed should lead to increased spending and a great opportunity for retailers to take advantage of this by showcasing sales and discounts on the more popular items.”

According to FRF’s partners at the National Retail Federation’s recent survey, consumers plan to spend $4.6 billion on jewelry (purchased by 34 percent of shoppers), $4.4 billion on special outings such as dinner or brunch (55 percent) and $2.6 billion on flowers (69 percent). In addition, $2.5 billion will be spent on gift cards (45 percent), $2.1 billion on clothing (36 percent), $2.1 billion on consumer electronics (14 percent) and $1.8 billion on personal services such as a spa day (24 percent). Another $956 million will be spent on housewares or gardening tools (19 percent), $813 million on greeting cards (77 percent) and $494 million on books or music (19 percent).

The survey found 29 percent want to receive a “gift of experience” such as a spa day, tickets to a concert or gym membership while 26 percent plan to give such a gift. Gifts of experience are given most often — 45 percent of those surveyed — by 18 to 34-year olds.

Individuals ages 35-44 will be the biggest spenders this year at an average $224. However, those between 18-24 will most likely use smartphones to research their purchases and compare prices at 62 percent.

When searching for gifts, 35 percent of consumers will head to department stores and 31 percent will shop online, while 29 percent plan to shop at specialty stores such as florists, jewelers or electronics stores. Meanwhile, 23 percent plan to shop at a local small business, 22 percent at discount stores and 10 percent at specialty clothing stores.

ABOUT THE FLORIDA RETAIL FEDERATION N
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.

ABOUT THE NATIONAL RETAIL FEDERATION
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

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