Mother’s Day spend to hit £1.7bn despite shoppers trading down
According to GlobalData’s report, 41% of consumers who intend to, or have already purchased, an item for Mother’s Day have or will spend under £20 on gifts
UK shoppers are set to spend £1.7bn on Mother’s Day this year, a 1.1% increase on 2023, as over half of consumers intend to purchase an item to celebrate the occasion, though price remains a main concern, according to the UK Mother’s Day Intentions 2024 report from GlobalData.
However, Global data said high inflation means that shoppers are paying more for less, and therefore the nation’s mums are “likely to find that the gifts bestowed on them are less impressive than last year”.
According to GlobalData’s report, 41% of consumers who intend to, or have already purchased, an item for Mother’s Day have or will spend under £20 on gifts.
It anticipates, food gifts and flowers will be popular products this year, and as such, retailers “must focus on showcasing entry price points to entice greater spend on the occasion.
Joe Dawson, Analyst at GlobalData, said: “Consumers still have tight budgets, and seeking out the lowest prices has become a norm for many. To capitalise on the high participation in the event, retailers must ensure that they are promoting the affordability of their ranges by clearly signposting Mother’s Day deals and discounts online and instore.”
It also predicts grocers are particularly well placed to benefit from consumers looking to cut back and should use exclusive loyalty scheme offers and discounts to encourage shoppers to spend more. Around a fifth of consumers stated that they intended to buy clothing or jewellery this Mother’s Day (19% and 21%), and retailers will need to cater to those looking to cut back by offering a range of price points.
Dawson added: “While the proportion of consumers intending to purchase gifts is higher for Mother’s Day than it was on Valentine’s Day, it is still lower than the 65% of consumers that participated in the event in 2023. Showcasing high quality products at affordable prices will be key to appealing to consumers looking to treat their loved ones at a lower cost and capturing greater spend closer to the date.”
