Australian retailers are set to benefit from a surge in spending on Mother’s Day despite the current cost-of-living crunch, according to research conducted by the Australian Retailers Association (ARA) in collaboration with market research company Roy Morgan.
The study predicts that Australians will spend $995 million on Mother’s Day this year, which is $70 million or 7.5 per cent more than last year.
Popular gifts for mothers this year are flowers (41 per cent), followed by alcohol and food (17 per cent), experiences (16 per cent), and clothing, shoes and sleepwear (10 per cent).
Despite the overall increase in spending, the number of people expected to buy Mother’s Day gifts is projected to decrease by 400,000 this year.
The study shows that the increase in overall spending can be attributed to a rise in spending per person of $102 (up from $92), reflecting inflationary-driven price increases and indicating that those less affected by cost-of-living pressures are spending more.
Meanwhile, the research also found that roughly one-fifth of Australians will celebrate the occasion with a meal at a café or restaurant, while 35 per cent will stay home.
Paul Zahra, CEO of ARA, said that despite financial pressures, many Aussies are still planning to show appreciation for their mothers this weekend.
“Whilst the overall spend is higher this year, fewer Australians will be buying gifts – which shows how cost-of-living pressures are disproportionately affecting families,” he concluded.
