Economics of the upcoming Mother’s Day celebrations in America

An interesting piece of information published by the Week throws light on enormous economics of the upcoming Mother’s Day celebrations, indicating that Americans are likely to spend over $2 billion so as shower their moms with gifts and flowers this Sunday. The numbers below indicate how an occasion like Mother’s Day can provide a big boost to gifting, giving, and offering presents, resulting in a huge business opportunity to vendors, retailers and manufacturers.

Here are some astonishing numbers behind the whole ‘business’ of Mother’s Day as revealed by Carmel Lobello, the Week’s Business Editor :

  • $20.7 billion is the amount Americans will spend this Mother’s Day, according to the National Retail Federation’s Mother’s Day spending survey
  • 85.4 million moms in the U.S., according to the latest stats from the United States Census Bureau
  • $168.94 is the average amount American consumers will spend on mom for Mother’s Day 2013
  • $152.52 is the average spending last year. This year’s figure is an 11 percent increase.
  • 3 is the Mother’s Day’s ranking, after Christmas and Valentine’s Day, in terms of the amount of money spent by US consumers. 5 is the Father’s Day’s ranking
  • 14.1 Percent of buyers who plan to purchase electronics as Mother’s Day gifts — the highest percentage in history
  • $2.3 billion expected to be spent on electronics for Mother’s Day, up from last year’s $1.6 billion
  • $2.3 billion expected to be spent on flowers this Mother’s Day
  • 16,182 florist establishments nationwide in 2010, according to New York Citizen One
  • 70,575 employees at floral shops across the U.S
  • 28.5 Percent of Americans who will buy their gifts online this year
  • 25.6 Percent of Americans who bought Mother’s Day gifts online last year
  • 29.1 Percent of shoppers who will buy Mother’s Day gifts at discount stores
  • 36 Percent of moms who would prefer to receive something homemade
  • 24 Percent of daughters who plan to give something homemade
  • 17 Percent of sons who plan to give something homemade

The above numbers indicate how the gifting industry by tapping all social and personal occasions can sustain itself round the year irrespective of the prevailing market pessimism, something that the Indian counterparts must make note of – to stay afloat in today’s challenging times.

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