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It appears the economy will not be effecting Mother's Day this year. Saying "I love you" with budgeted bucks is seen as a "must do." While consumers are planning a buying level about the same as last year, around $138.63, their expenditures will be focused on one major gift rather than several smaller gifts.
Consumers still plan to spend big bucks to please mom this Mother's Day however this year they plan on being cautious with how they expend those gift dollars. BIGresearch Vice President of Strategy Phil Rist says, "Gas prices and other economic issues will still be at the forefront of people's minds as they shop around for the perfect gift for mom."
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According to the National Retail Federation's Mother's Day Consumer Intentions Survey conducted by BIG research, consumers plan to spend over $15.8 billion dollars for the holiday with the largest increase in the jewelry sector. The percentage of those buying jewelry is expected to drop from 32.8% to 29.7%, however those who will be buying plan to spend around $2.7 billion (up from $2.1 billion last year).
Other gifts expected to be big hits this Mother's Day include special dinners and lunches, digitial cameras, digital photo frames and video cameras. Classic gifts such as flowers and personal service gifts are expected to total $2.0 and $1.1 billion. For those who can't find the perfect gift to surprise moms are planning on spending around $1.6 billion on gift cards and gift certificates.
The majority of shoppers will look to speciality stores (35.0%) for mom's present. Discount stores (25.7%) and department stores (28.8%) are also on the top list for consumers shopping for Mother's Day.
Young adults 18-25 years old plan to spend the most this Mother's Day budgeting about $170.71 followed by 25-34 year olds at $153.17 and 35-44 year olds at $145.86.