NEW YORK — Children and spouses are expected to spend north of $900 million on consumer electronics this Mother’s Day, two separate surveys show.
According to a poll by market research firm BIGresearch for the National Retail Federation (NRF) trade group, CE spending for Mom will hit $906 million, a 5.7 percent increase over last year, with the average shopper shelling out $87.70, compared with $76.41 last year.
However, the percentage of all shoppers selecting CE slipped from 10 percent last year to 9 percent this year, placing electronics in last place behind clothing, jewelry, flowers, books, cards and gift certificates as the holiday’s gift of choice, NRF said.
A separate Mother’s Day forecast, from IBISWorld, pegged CE growth at 6.5 percent, second behind only clothing, for a projected holiday take of $910 million.
“Clothing and electronics are set to see the greatest growth for year-on-year sales this Mother’s Day,” said IBISWorld senior analyst Toon van Beeck. “The electronics sector is one area that has observed great swings in growth and decline throughout the past few years. However, this Mother’s Day will prove positive for electronics retailers, especially in homerelated products, as consumers return after consecutive years of holding back on such discretionary purchases.”
NRF said total spending is expected to reach $14.6 billion, making Mother’s Day the second-largest U.S. consumer spending holiday after the winter holiday season. The average person will shell out $126.90 on Mother’s Day gifts this year, compared with $123.89 in 2009.
“Even with slight improvements in the economy, consumers are still looking for unique, sentimental and inexpensive ways to show mom that she is important,” said NRF president/CEO Tracy Mullin.
Added Phil Rist, BIGresearch’s strategic initiatives executive VP: “For some, Mom is the glue that holds the family together. After a few years of cutting back on their discretionary spending, consumers will open up their wallets a little bit more to celebrate the woman with the most important job in the world.”
The NRF 2010 Mother’s Day Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Mother’s Day holiday. The poll of 8,197 consumers was conducted April 6–13 and has a margin of error of plus or minus 1 percent.
IBISWorld’s Van Beeck added that consumers are slowly moving back to their old shopping habits and are no longer focused solely on price. “A growing number of consumers are willing to pay premium prices for products again, meaning that deep discounting is no longer the only technique driving retail traffic,” he observed.