Mother’s Day Spending Expected to Increase, but Flower Shortage Is a Bummer
Because She’s Worth It
A survey from the National Retail Federation and Prosper Insights & Analytics predicts Mother’s Day spending will total $31.7 billion this year, with an estimated 84% of adults set to celebrate the holiday in some fashion. Compared to last year, spending is expected to increase by 13%.
NRF researchers say people are eager to honor mom and the other special women in their life, backed up by a willingness to spend. It’s projected that the typical consumer will end up paying $245.76 on average, a record high for Mother’s Day, and 11% more than 2019’s pre-pandemic level. In another sign of the times, most people expect to buy their gifts online.
Lacking Flower Power
Flowers are always a popular gift choice on Mother’s Day, as spring is in bloom and color returns to the landscape. Unfortunately, supply-chain issues and poor growing conditions have caused a global shortage of fresh flowers, per a New York Times (NYT) report. Employers are also apparently having a tough time hiring talented designers, all while the cost of things like vases and the flowers themselves have gone up.
Some florists are sharing supplies with other shops, and retail stores are reportedly receiving low amounts of certain flowers. The trend may be having an impact on investor’s thinking, as 1-800-Flowers.Com (FLWS) saw its share price fall 15% last week.
If flowers end up being too expensive or impossible to find, or they just aren’t what mom likes, plenty of other options exist. A recent survey from Klaviyo found many other traditional selections remain popular, such as jewelry, gift sets, and perfume.
Klaviyo’s findings also indicated experiences and gift certificates are increasingly preferred as Mother’s Day gifts, with 84% of respondents saying they’d rather enjoy a tangible experience as opposed to a physical item. Meanwhile the NRF says nearly four in 10 women would favor a subscription service like Birchbox or Stitch Fix (SFIX). Perhaps the most important data point: just over 40% of the NRF survey’s respondents said the most important factors were a gift that’s unique, different, or creates a special memory.
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