Tariffs are forcing more than a third of Americans to pull back on spending for Mother’s Day gifts
Do the prices make you nervous at the idea of spending this Mother's Day a lot? You are not alone.
Anew investigationDe Lendingtree noted that more than a third of Americans (38%) blamed the prices for having removed their expenses this year (although we do not recommend using this excuse on your mom on Sunday, unless she lives up to all the latest macroeconomic threats).
But with only a few days until the big day, there are still mixed signals that consumers will pay for their mother figures this year or back up in the face of economic uncertainty and prices.
The Lendingtree survey is at least on the bearish side. The online banking service revealed that the Americans plan to spend an average of $ 148 for Mother's Day this year, down 14% compared to $ 172 last year and down 34% against $ 225 in 2022.
It is not for lack of trying, because 50% say that they could spend more than they can afford it.
“Almost nobody wants to get her mother less from a gift from Mother's Day than in the past, but in a period of price increase and great financial uncertainty, difficult decisions must be made,” said Matt Schulz, chief analyst in Lendingtree's Consumers' finance. “Unfortunately, this investigation suggests that for many families, one of these sacrifices involves spending less for mom this Mother's Day.”
Stay optimistic:Looking at the situation as a whole, the National Retail Federation is more optimistic. The commercial groupclean investigationhave found that consumers plan to spend a total of $ 34.1 billion this year, up slightly compared to $ 33.5 billion from last year, and $ 259.04 on average for those who celebrate, up $ 5 compared to last year.
As the Vice-President NRF said in industry and consumers Katherine Cullen, Mother's Day isOnly outdatedWinter holidays in terms of spending, and economic uncertainty will not stop this.
Adobe Analytics also notes positive signs in its online sales data in real time. Sales increased by 59% on perfumes; 21% on handbags and handbags; 19% for lipstick; And 500% to 550% on flowers, with a higher increase in luxury categories at all levels. Some specific bestsellers include shoulder bags, claws, lipstick in purple tones and charm bracelets.
This report was Originally published by Brewer brewing.
This story was initially presented on Fortune.com
