With Mother’s Day fast approaching, retailers across Australia are preparing for the influx of customers hunting down the perfect gift for their mum.
Analysis from business and industry researcher IBISWorld shows consumer spending is expected to increase by 2.9 per cent in the lead-up to Mother’s Day this year, compared with 2013.
Australians are forecast to spend $1.4 billion on their mothers this month, with many children choosing to treat their mum to a meal out, rather than buying an expensive gift.
IBISWorld estimates individuals will spend an average of $61.31 in the days leading to May 11, which is up from $60.47 in 2013. Additionally, this is also more than twice what Australians spent on their dads for Father’s Day last year.
“There are many reasons why spending on mothers is higher than spending on fathers, including the perceived lack of gift options available for Dad,” IBISWorld Australia General Manager Dan Ruthven explained in an April 29 media release.
“Whereas food, alcohol, sporting goods and the stalwart hankie and sock gift pack are seen as the presents of choice for Dad, Mum enjoys a far broader selection from bouquets to bottles of champagne, perfume and spa treatments,” he said.
In terms of the retail trends hitting Australian shores this Mother’s Day, cafes and restaurants are expected to be the main beneficiaries of the increased spending, with more than $310 million passing through their doors as children take their mothers out for a celebratory meal.
This sector far outstrips all other relevant industries, including flowers and gift vouchers and cards, which are expected to draw $199 million and $137 million respectively. This is because dining out is typically a complementary event, where children choose to take their mothers to dinner or brunch while also buying them another gift.
In terms of growth, homewares and electrical goods will increase by the largest amount – climbing 4.7 per cent from 2013 spending.
“Mums typically love making a house a home. As a result, many children are willing to risk perceived impersonal gifts and opt for something functional, especially as Mum pursues her goals as the homemaker and career woman,” said Mr Ruthven.
As Mother’s Day approaches, many retailers in Australia will benefit from the increased spending, but it is important to ensure your retail marketing strategy attracts consumers and promotes your establishment as a Mother’s Day friendly store.