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How Retailers Will Win This Mother’s Day

If you didn’t realize Mother’s Day is this coming Sunday, consider this your friendly reminder. More and more people are spending big bucks on their moms and this year is no different.

That’s exactly what the National Retail Federation found in their latest 2015 Mother’s Day Spending Survey conducted by Prosper Insights & Analytics. The report states that Americans will actually spend an average of $172.63, up nearly $10 from last year, and the highest amount in the survey’s 12-year history. Basically, moms are getting more love this year than before.

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This isn’t just good news for moms everywhere, it’s great for retailers. Total spending for Mother’s Day is expected to reach $21.2 billion, so there’s plenty to be excited about for Mother’s Day 2015. But what will shoppers spend money on? And how can retailers prepare for the week ahead?

What’s Mom Getting?

No surprise here, but when it comes to gifts, the majority of consumers will pick up a greeting card for mom (80% to be exact). Roughly $2.4 billion will be spent on flowers, and $1.9 billion will be spent on apparel and clothing items (up from $1.7 billion last year). If you offer these kinds of items in your assortment, you’ll need to make sure to stock heavy for the coming week. Maybe offer a coupon for women’s clothing, or a free greeting card with the purchase of $50 or more to bring in some extra customers to your store.

This year, many customers are going to be looking to purchase gift cards. Roughly 44.2% of shoppers will give mom a gift card, so maybe include a free $10 gift card when the shopper meets a minimum spending threshold.

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How to Prepare

The largest group (33.4%) of shoppers surveyed will be making purchases at department stores, while others will shop at specialty or discount stores. Many believe shoppers are eager to leave their homes after a long, cold winter, so there will be fewer online shoppers this year than last. If you’re trying to attract more shoppers to your online channels, provide online-only deals limited to this week.

Almost half of shoppers between the ages of 18 and 24 who own smartphones and tablets will use those devices to research products and compare prices for gifts, so make sure your sites are optimized for mobile. Despite their heavy mobile usage, they won’t be the biggest overall spenders. That title belongs to the 25-34 age group.

Get ready to deliver quickly and efficiently for last minute gifts, and make sure your inventory is up to par for mother-appropriate gifts. Put yourself in the shoes of a 22 year old who just realized Mother’s Day is less than a week away, and make sure your offerings can put that shopper’s worries at ease. They’ll remember that you were there for them, and you could gain a loyal customer for life.

Contributing Writer: Brian Smyth

 

Arie Shpanya

Arie is the former COO, Executive Chairman, and Co-Founder of Wiser, a dynamic pricing and merchandising engine for online retailers and brands. He has extensive experience in business development with a focus on eCommerce (eBay and Amazon), and is a guest blogger on Econsultancy, VentureBeat, and more.

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