Mother’s Day, consumption habits
May is a month in which the maternal figure is celebrated around the world. Millions of people think about the ideal gift to give to their mothers.
Marketing campaigns start from the beginning of the month and companies are prepared with all kinds of discounts and offers.
According to the National Retail Federation, 84% of adults in the US hope to celebrate this day with their mothers or other women with significant roles in their lives.
"Mother's Day spending has been growing consistently over the past several years, and this year's spending is expected to be the highest in the 16-year history of our survey," NRF President and CEO Matthew Shay
How will the money be spent?
- $4.6 billion on jewelry
- $4.4 billion on Special Outings
- $2.6 billion on Flowers
- $2.5 billion on Gift Cards
- $2.1 billion on Clothing
- $2.1 billion on Electronics
- $1.8 billion on Spa days and other services
- $956 million on Houseware and Gardening tools
- $956 million on Mother’s Day cards
An interesting fact is that the same market study revealed that this year, it also looks like moms will be getting electronics (i.e., smartphones and tablets) -a record 14.1 percent said they will purchase an electronic gadget for mom.
Perhaps it may surprise some that so many mothers have electronic devices, but according to Forbes, "a joint study with BabyCenter, a pregnancy and parenting media company, and comScore a digital research firm found that 49% more moms have smartphones compared to the general population".
Companies must start thinking about the consumption habits of this generation to reconfigure their sales stance towards this sector since a large part of the Millennials have recently become parents (and a large part will do so in the near future).
This supports the previous idea, on the demand of electronic devices for these new moms, the latest generation of mothers tends to be incredibly connected, with 50% of mothers with young children owning tablets and other mobile browsing devices.
As with other products, Millennial generation seeks that their gifts for special dates come from brands that are socially responsible (both with the environment and in their fair-trade policies).
Where will Consumers shop?
- 35% Department Stores
- 31% Online Stores
- 29% Specialty Stores (gift stores, florists, jewelers, electronics stores, etc.)
- 23% Local, Small Business
- 22% Discount Stores