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Asset Preservation Advisors




City:Atlanta

State: GA



BIOGRAPHY:
APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Consumer Spending Trends: Affluent Opt for Traditional Mother's Day Gifts

Mother’s Day is second only to the winter holiday season as the nation’s biggest retail holiday. Consumers do spend more on back to school purchases, but that’s not technically a holiday, although getting the house back to themselves may seem like one to moms.

| BY Donald Liebenson


When it comes to Mother’s Day gifts, affluent shoppers don’t endeavor to re-invent the wheel. They go for the tried and true, according to consumer spending trends tracked by Spectrem’s Millionaire Corner.

Half of affluent respondents surveyed said they will buy their mothers flowers this year. Nineteen percent will be honoring mom with either a gift certificate or a spa day, while 14 percent will present her with jewelry. A near equal percentage will grant her a day to herself to do what she wants. Almost one-third said they are opting for “other.”

It is a testament to the esteem moms are held that Mother’s Day is second only to the winter holiday season as the nation’s biggest retail holiday, according to the National Retail Federation (Consumers do spend more on back to school purchases, but that’s not technically a holiday, although getting the house back to themselves may seem like one to moms).

In comparison, Father’s Day spending lags behind Valentine’s Day and Easter, and is just ahead of Super Bowl spending, according to NRF consumer spending trends data.

Appreciation for mom knows no net worth. Those with less than $100,000 were the least likely to say that they do not give their mother a Mother’s Day gift. In most cases, their gift-giving is on par with their wealthier counterparts, although they were most likely to offer mom that family-free day to do what she wants.

Younger children or family members seem to be the most ardent Mother’s Day gift givers. Six-in-ten of respondents under 40 said they will be giving mom flowers vs. 54 percent of those ages 41-50 and 48 percent of Baby Boomers 51-60. Mothers whose kids are under 40 are also most likely to receive jewelry (21 percent) or a spa day/gift certificate. A mere six percent of this age group said they do not give Mother’s Day gifts, compared with 12 percent of Gen Xers and Baby Boomers.

Related story: How investors celebrate Mother’s Day



About the Author


Donald Liebenson

dliebenson@millionairecorner.com

Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.