Posted in Business

Florida retailers expect near record spending for Mother’s Day

   May 2, 2016

The Florida Retail Federation (FRF), the state’s trade association representing retailers for over 75 years, says Florida mothers can expect another year of special gifts from their loved ones, as family spending will reach $172.22 this year, down just slightly from last year’s record high total of $172.63. This year’s total remains more than $10 higher than 2014. Total spending nationally is expected to reach $21.4 billion, with 84 percent of consumers celebrating the holiday.

“It’s wonderful to see families wanting to celebrate and honor their mothers and we expect near record spending once again,” said FRF President/CEO Randy Miller. “Florida’s economy continues to outpace the national economy, which should bode well for Sunshine State retailers who price items right and take advantage of the expected increased sales opportunities.”

According to FRF’s partners at the National Retail Federation’s 2016 Mother’s Day Spending Survey, consumers plan to spend $4.2 billion on jewelry (given by 35 percent of shoppers), $4.1 billion on special outings such as dinner or brunch (given by 55 percent), $2.4 billion on flowers (66 percent), $2.2 billion on gift cards (43 percent), $1.9 billion respectively on clothing (35 percent) and consumer electronics (14 percent) and $1.6 billion on personal services, like a day at the spa (23 percent). Greeting cards are the most commonly purchased gift at 78 percent of those surveyed but account for only $792 million of the projected spending.

Consumers were asked for the first time about “gifts of experience” such as tickets to a concert or sporting event. According to the survey, 24 percent want to receive such a gift and 22 percent plan to give it.

When searching for the perfect gift, 33 percent of consumers will head to department stores and 29 percent will shop at specialty stores, while 23 percent plan to shop at a local small business. But not everyone will make it to a store: 27 percent will shop online, up from 25 percent last year. Among smartphone owners, 30 percent will research gift ideas on their phones while 16 percent will use them to make a purchase.

The survey of 7,000 consumers was conducted April 5-13 and has a margin of error of plus or minus 1.2 percentage points.

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