Mother’s Day spending could decline this year
Mother’s Day is just around the corner and numerous sons and daughters plan to purchase gifts to demonstrate just how much they care.
However, the majority of shoppers – 52 percent – plan to spend less than $100 this Mother’s Day, according to a survey conducted by PriceGrabber.com. This frugality may result in fewer people requiring credit counseling services in the coming months.
"Whether shoppers are planning to honor their mom with a bouquet of flowers, a night out, jewelry, or clothing, consumers are looking for deals on gifts early and on a budget this year," said PriceGrabber senior vice president of sales and marketing Rojeh Avanesian.
However, just because a greater number of Americans plan to spend large sums of money this Mother’s Day doesn’t mean they won’t put this money toward other purchases in the coming month. This speculation comes as the most recent Consumer Confidence Index from the Conference Board increased to a mark of 68.1 in April, from 61.9 the previous month.
Additionally, a greater number of consumers feel more positive about rising everyday costs in the next 12 months, the report said.