IBISWorld predicts that overall retail spending will be up 3.9% for Mother’s Day this year, with online vouchers coming in as one of the most popular gifts.
Australian mothers can look forward to being indulged just a little more on Mother’s Day this year, with market research firm IBISWorld predicting an overall retail spend of $1.36 billion, up 3.9 percent.
This figure is based on an average spend of $88, compared to $85 dollars last year, with men and younger adults recognised as the biggest spenders. Figures in the US show that men outspend women by around 60 percent when it comes to purchasing gifts for Mother’s Day, a trend that is expected to be echoed by Australians.
Unfortunately for fathers, Australians usually spend almost double the amount on Mum than they will on Dad when Father’s Day comes around.
General Manager of IBISWorld Australia, Karen Dobie, said gift cards – in particular, online vouchers from group buying websites – will top the list of Mother’s Day gifts for the second year running.
“This is one of the fastest growing segments within the online space. Competitive local players including Cudo, Spreets, Ozsale and CatchOfTheDay will have a raft of Mother’s Day specials to entice new customers,” Dobie said.
In a departure from last year’s trends, IBISWorld predicts that the high Australian dollar and strong online sales may fuel growth in clothing purchases by as much as 7.1 percent. The growth of gift card and voucher purchases will also contribute a flow-on effect to the clothing industry.
“One change this year may be the number of mothers unwrapping an item of clothing purchased overseas, as e-commerce expert kids seek better value for money – and make the most of cheap postage – by patronising major overseas online retailers,” said Dobie.
Have you developed promotions to target gift shoppers for Mother’s Day? Perhaps introducing an online gift card may be a sensible move for capturing more customers.