Are consumers too"retail weary" to spend cash this Mother's Day?
Unless you’ve been doing business under a rock lately, then you know that Mother’s Day is not far away. And while it isn’t as huge as the Christmas holidays or the back-to-school season, Mother’s Day is still considered a significant shopping event.
Recent surveys are showing that the overall spend for Mother’s Day this year, is predicted to be significantly down on previous years. The data also revealed that over a quarter of the population don’t celebrate Mother’s Day, avoiding dipping into their bank accounts and preferring to spend Mother’s Day with their mothers or speak on the phone with them.
So what does this mean for retail businesses? Can they expect a sales rush from those searching for gifts for mum, or are these special events no longer a solid bet for sales?
Consumers are becoming "retail weary" overall, sometimes thinking Mother’s Day is a bit of Hallmark holiday and look more towards individual holidays such as birthdays.
In an effort to reengage the consumer we are seeing some interesting Mother's Day campaigns coming through.
Many businesses have been sending reminders to their email database in the lead up to Mother's Day to ensure they are on the radar with a calendar showing when customers need to place orders (if they're shopping online) and shipping option to select if they want their purchases to arrive on time.
Saks Fifth Avenue partners up with local non-competing businesses such as restaurants, spas or flower shops and run a gift card promotion to encourage people to buy. The store benefits because of the increase spending, and the local business wins as well because it gains new customers.
We are also seeing an increase in retailers selling limited edition, mum-centric products complete with gift wrapping service and customised card.
Overall, retailers are focusing on ensuring they are front of mind during this time and offering special products or deals that are as fuss free for the consumer to buy and give.