Mother’s Day Spending Set To Reach $23.1 Billion This Year
And it's not too late for physical businesses to build marketing efforts around the holiday: 65 percent of shoppers say that they tend to buy their gifts in-store at the last minute.
Spending for Mother’s Day 2018 is set to reach $23.1 billion this year, as 86 percent of Americans celebrate the holiday, according to a report from the NRF — and with 69 percent of consumers planning to shop in physical stores, this total represents a significant opportunity for brick-and-mortar retailers.
To find the perfect gift for mom, shoppers — who will spend an estimated average of $180 per person — plan to head to department stores (35 percent) and specialty stores such as florists or jewelers (29 percent). Restaurants, hotels, and theaters are also likely in the mix: 29 percent of mothers say they’d like to receive an “experience” for Mother’s Day.
“This year’s Mother’s Day forecast is one of the strongest we’ve ever seen [for retailers],” NRF President and CEO Matthew Shay said in a statement.
‘Last Mile’ Marketing
So, what does that mean for physical business looking to capture a share of this significant spend?
Florists and jewelers have likely already run marketing campaigns, knowing that the holiday is always a significant one for business. But retailers of all stripes shouldn’t forget the “last mile” in the days leading up to May 13: 65 percent of shoppers say that they tend to buy their gifts in-store at the last minute, according to a survey from CanvasPop.
This means that brick-and-mortar businesses would do well to target Mother’s Day related keywords, prioritizing discovery via both mobile text and voice searches. Additionally, location-specific ads and real-time promotions stand out as a way to help businesses drive foot traffic from local customers — and win over competitors.
And even if a geo-fenced offer or notification doesn’t provoke an immediate visit or sale for Mother’s Day, it might still prove useful: As we’ve written previously, it allows a business to know exactly what location a consumer passed through — and where they were when they received the message — which may aid in refining targeting efforts in the future based on what communications were most successful.