UK shoppers are set to spend £1.7bn on Mother’s Day this year, a 1.1% increase on 2023. 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, publishers of EPI.
However, high inflation means that shoppers are paying more for less. As a result, 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. 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.
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Retailers need to promote affordability
Joe Dawson, Analyst at GlobalData, said: “Consumers still have tight budgets. 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.”
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 concluded: “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.”
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