How much is mum worth? $60 apparently
‘‘Figures in the US show that men outspend women by around 60 per cent when it comes to their mum, a trend that is also prevalent in the Australian market’’ ... IBISWorld general manager Karen Dobie. Photo: Lyn Osborn
Australian sons and daughters will spend an estimated $1.36 billion this week to show how much they love their mums, with per capita spending for Mother’s Day expected to rise 3.4 per cent from last year to an average $60, according to research group IBISWorld.
A new report said most adults – aged between 15 and 64 – will open their wallets a little more with gifts averaging $88 up from $85 last year.
IBISWorld general manager Karen Dobie said men and younger adults are typically the biggest spenders.
‘‘Figures in the US show that men outspend women by around 60 per cent when it comes to their mum, a trend that is also prevalent in the Australian market,’’ she said.
‘‘Unfortunately for Dads around the country, figures reveal that the average Australian spends almost double the amount on mum as they do on dad ($29.50) when Father’s Day comes around.’’
Ms Dobie said gift cards – especially online vouchers from group buying websites – would be top of the Mother’s Day shopping list for the second year running and were expected to grow by more than 10 per cent.
“This is one of the fastest growing segments within the online space.
‘‘Competitive local players including Cudo, Spreets, Ozsale and Catch of the Day will have a raft of Mother’s Day specials to entice new customers”, Ms Dobie said.
“IBISWorld anticipates growth of 10.7 per cent this year, well ahead of any other segment. That’s also on the back of last year’s 10.2 per cent jump, so this sector is streets ahead year on year”, Ms Dobie added.
Chocolate and confectionery remained an old favourite and will hold their ground again this year with a 7.7 per cent increase in spending from last year. Growth will largely be driven by the rising popularity of premium, fair trade and organic varieties, IBISWorld said.
Clothes purchases declined strongly during 2011, the high Australian dollar and strong online sales will lead to growth in clothing purchases of 7.1 per cent this year. The trend towards giving gift cards and group buying vouchers will also have a positive flow-on effect to the clothing and accessories market.
“One change this year may be the number of mothers unwrapping an item of clothing purchased overseas, as e-commerce expert kids seek better value for money – and make the most of cheap postage – by patronising major overseas online retailers”, said Ms Dobie.
In line with previous years, IBISWorld reports that eating out will account for the largest share of Mother’s Day spending at 21.6 per cent. As for this year, Ms Dobie anticipates growth of 6.9 per cent to $294 million.
IBISWorld expects spending on flowers will grow by 4.4 per cent from 2011. Greeting cards are another staple tradition and will enjoy a spending rise of 3.9 per cent.
Poll: How much are you going to spend on your mum?
- More than $60.
- Less than $60.
- Mother's day is just a Hallmark holiday.
Total votes: 2146.
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Poll closed 11 May, 2012
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