Looks as if there will be two very happy groups come May 13 — moms and merchants.
A recent survey of more than 7,500 consumers conducted by the National Retail Federation and Prosper Insights and Analytics is forecasting a near-record $23.1 billion sales year for Mother’s Day, May 13.
According to the forecast, 86 percent of Americans will be celebrating this year, and it’s estimated that we’ll each spend about $180, on average, on mom.
The biggest sales likely will be from jewelers, who are expected to rake in $4.6 billion. Restaurateurs will be serving dinner and brunch to the tune of $4.4 billion.
Florists are expected to pull in about $2.6 billion.
Other winners that day should be clothing stores, consumer electronics and spas. The greeting card industry is anticipated to bring in more than $800 million.
“This year’s Mother’s Day forecast is one of the strongest we’ve ever seen,” National Retail Federation President and CEO Matthew Shay said in a news release. “With spring in full bloom, Americans are looking forward to splurging on their mothers.”
If you’re trying to target a demographic, then you might want to go after the 35- to 44-year-olds. They’re expected to spend an average of $224.
Fifty-two percent of survey respondents said they were going to shop at a local small business or specialty store selling items like flowers, jewelry and electronics.
Thirty-one percent plan to shop online.