Despite healthy markets, investors are feeling less generous toward Mom this year, with nearly one in five (18%) indicating they don’t plan on spending any money on a gift for Mother’s Day this year, versus just 5% saying the same thing in Spectrem Group’s 2016 survey.
The survey of nearly 1,200 people found 28% plan to spend $1 to $49 on Mom, and the same percentage plan to spend $50 to $99. In the 2016 survey, 42% were planning to spend $1 to $49 and 33% were planning the spend $50 to $99. About one-quarter of this year’s respondents (26%) plan to spend $100 or more.
For those buying a gift, however, flowers remain the most popular option, with four in ten (39%) investors citing it as the gift they usually buy. While flowers are most cited by those in all occupations, the survey found corporate executives are more likely than business owners or other occupations to purchase jewelry for Mom.
Corporate executives are also more likely than business owners or other occupations to give Mom a trip or vacation for Mother’s Day.