Consumers Expect to Spend More on Spring Holidays

Consumers overall expect to spend more this year than last year on Memorial Day, Mother’s Day, and Father’s Day, according to a report from Coresight Research. 

Key findings are as follows:

• Roughly 36 percent of consumers plan to spend to celebrate Memorial Day, with an additional 22.5 percent planning to celebrate the holiday without spending.

• Approximately 50 percent of consumers plan to spend to celebrate Mother’s Day, with an additional 26.8 percent planning to celebrate the holiday without spending.

• Nearly 47 percent of consumers plan to spend to celebrate Father’s Day, with an additional 25 percent planning to celebrate the holiday without spending.

Moreover, the report found that consumers are likely to spend more because they indicate that their financial situation has improved from a year ago.

When looking at Mother’s Day and Father’s Day, the report notes that the celebration method of the holidays varies by generation.

“For Mother’s Day and Father’s Day, consumers aged 30-44 are most likely to engage in celebrations—including going shopping or giving/receiving gifts,” said the report, adding that retailers should focus on that age bracket to drive sales. “All age groups report plans to socialize during the holiday, with high expectations to meet up with friends or family and cook a meal at home.”

The report also evaluated the Winter holidays of Valentine’s Day and President’s Day, finding that consumers favored lower-cost retailers when shopping for Valentine’s Day, and President’s Day celebrators spent more on the holiday than they expected.