2011 Mothers Get Spoiled

Big Business of Mother’s Day

Yesterday was Mother’s Day in America. It’s meant to be the day when mothers are spoiled and it’s become a huge financial business. Indeed figures for last year reached a staggering $14bn in America. Most popular items were flowers and candy. It is expected that figures for yesterday are to be even higher.

These predictions can be made according to general consumer spending. This has to spell good news for the global economic recovery as surely we wouldn’t be spending so much money if we just didn’t have it. So let’s take a look at the predictions.

Mother’s Day Spending Stats

So let’s take a look at the statistics over the years as worked out by the National Retail Foundation. In 2007, the average spending was $139.14; a large drop was felt in 2009 when the figure was $123.89. This went up a little the following year but this year the prediction is the highest, at $140.73. And who will be getting these gifts? Mostly to moms (or stepmoms) coming in at 60 percent; smallest figure to a friend at 7 percent. The wife doesn’t do badly too, getting an average 39 percent of the gifts given.

What are we Getting?

So if there is all this money spent, what can the woman hope for on Mother’s Day? The most money spent was on a special outing (coming in at $26.73); the least on a book ($4.08). Other gifts in between included: jewelry, clothing, massage, housewares, flowers.

So if you feel you got a bit diddled yesterday and no-one made a fuss of you, perhaps it’s time you made a bit of a fuss yourself and ask your kids (or husband if your children are too little) for a nice gift or some time off.

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]businessdistrict.com