IBISWorld Reveals The Industries Set To Cash In On Our Love For Mom
LOS ANGELES, May 5 /PRNewswire/ -- According to IBISWorld, Inc., (http://www.ibisworld.com/), one of the nation's most respected independent publishers of business intelligence research about 86 percent of Americans will be celebrating Mother's Day on May 11 this year, with children expected to spend more than $18 billion on spoiling their mothers.
And while gift ideas from toasters to towel sets are filling the catalogues, IBISWorld analysts say greeting cards and flowers will remain the primary gifts of choice this Mother's Day, followed by gift certificates, jewelry, pamper packs, and a well earned break from the kitchen.
Top Mother's Day Gift Picks
Flowers -- A traditional favorite, Americans are expected to spend $2.61 billion on a bunch of blooms for mom this Mother's Day. In addition to carnations, chrysanthemums, and lilies, other popular choices will include orchids, roses, and Spring-time tulips.
Greeting Cards -- While e-cards and homemade cards are becoming increasingly popular, IBISWorld predicts the greeting card sector will generate close to $68 million in sales from Mother's Day spending this year, with Hallmark Cards, Inc., being the number one brand of choice.
Gift Certificates -- As Americans become increasingly short on time, IBISWorld has identified gift certificates as a sector set for growth this year -- largely fueled by the convenience of the Internet.
"Gift certificates take the pressure off the giver, and allow the receiver a guilt free shopping spree," said Mr George Van Horn, senior analyst for IBISWorld, Inc. "And with an increasing number, and greater variety of stores offering this option, gift certificates are forecast to account for $1.94 billion of Mother's Day spending this year, with the segment set to boom in the coming years."
Jewelry - IBISWorld is forecasting Mother's Day will generate 7.8 percent of the jewelry industry's annual revenue in 2008, with spending expected to reach $2.41 billion. The most popular choices for mom's under the age of 25 are sterling silver pieces, with moms aged between 26 and 49 preferring quality rings and earrings, and mom's aged over 50 favoring more traditional items such as pearls.
Personal Services and Pamper Packages - Incorporating all things indulgent, personal services and pamper packages, including spa treatments, facials, and massages are expected to be a big hit this Mother's Day, with spending on this sector expected to reach $1.53 billion.
Giving Mom the Night Off - Whether it's take-away at home, lunch at a cafe, or dinner at a family friendly restaurant, Mother's Day will give many moms a break away from the kitchen. American's are expected to spend close to $3.51 billion on dining out this year, with brunch and dinner being the most popular dining out options.
Another trend noted by IBISWorld this year is a move away from the purchase of 'functional' items such as kitchen and electrical appliances. "This Mother's Day is all about indulgent items," said Mr. Van Horn. "So while a foot spa may still feature, a food processor is definitely off the list."
About IBISWorld
Founded in 1972, IBISWorld provides a unique and extensive online portfolio of business research and analysis products designed to serve a range of business, professional service and government organizations. Delivered through enterprise subscriptions, the company publishes in-depth reports on more than 700 industries and offers profiles on more than 8,000 U.S. companies. In addition, the company provides databases of economic analysis, demographic data, and risk assessment reports relevant to virtually every business sector. IBISWorld's materials are valued for the breadth and depth of the research and analysis covering the entire U.S. economy, incorporating both financial and non-financial information impacting tracked industries and companies. IBISWorld Business Information is well known for its accuracy, consistency and timeliness. This is why almost all online information aggregators seek us out to include our reports as part of their global databases. Current IBISWorld partners include Hoovers, Valuation Resources, Superfactory and American Small Business Development Centers. With U.S. headquarters located in Los Angeles, IBISWorld has offices in New York, Melbourne, and Sydney. For more information, visit http://www.ibisworld.com/ or call 1-800-330-3772.
IBISWorld, Inc.
