Monday, 02 May 2016 14:10

Near Record Spending Expected this Mother's Day

For Immediate Release: May 2, 2016
Contact: James Miller This email address is being protected from spambots. You need JavaScript enabled to view it., (850) 701-3015

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As economy continues to remain strong, families will be looking to shower moms with jewelry, flowers, meals and electronics the most popular options

TALLAHASSEE, FL – The Florida Retail Federation (FRF), the state’s premier 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.

ABOUT THE FLORIDA RETAIL FEDERATION
Founded in 1937, the Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide three out of every four jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year. In fact, more than three out of four of Florida’s budget dollars come from retail-related activity. For more information, visit the FRF website, and follow FRF on Facebook and Twitter.

ABOUT THE NATIONAL RETAIL FEDERATION
As the world's largest retail trade association and the voice of retail worldwide, the National Retail Federation's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the U.S. and more than 45 countries abroad. In the U.S., NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2010 sales of $2.4 trillion. www.nrf.com.

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