Mother's Day spending will top $17 billion this year
Americans are feeling a little more flush in 2013 and are likely to spend more on Mom.
A strengthening economy means spending a little bit more on Mother's Day this year. Compared with last year, consumers will part with an additional 0.2% overall, hitting $17.1 billion, according to research firm IBISWorld.
And there's some momentum behind those numbers, because last year's Mother's Day spending figures were up 6.5% from 2011.
In keeping with tradition, most of those purchases will be made on flowers, jewelry and holiday outings, with shoppers projected to spend $2.7 billion at the florist, $2.9 billion at the jeweler's and about $2.8 billion for a trip to a special restaurant, a day cruise or some other treat.
"It's our second-busiest time of year behind Valentine's Day," Wendi Day, the owner of the Old Town Florist in Portland, Ore., told the Portland Business Journal. "Everyone's paid their taxes. April is a little bit of a lull. (Mother's Day) is real important."
Some other items expected to make a splash, according to IBISWorld, are:
Gift certificates: Up 2.2% from 2012, to $1.82 billion.
Clothing: Up 0.7% vs. 2012, to $1.51 billion.
Personal services: A housekeeper for the day, a catered dinner or a personal massage or manicure, can be a big hit. This sector is expected to rise 0.8% to $1.32 billion.
But there are noticeable declines:
Electronics: Mom may not want that Apple (AAPL) iPod. Sales of electronics for Mother's Day are expected to drop by 5.3% to $1.08 billion.
Greeting cards: Sales should fall by 5.1% to $710 million because more consumers are using electronic cards, email and social networks to convey holiday greetings.
Housewares and gardening: A 3.5% drop to $66 million.
Books or CDs: Down 3.1% to $63 million.
And if you plan to go the old-school route but don't know what kind of flowers to get, Portland's Day has a suggestion: "Our most popular item is the mixture of flowers this year," she said. "Especially tulips and peonies."
Happy Mother's Day.
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