May 7, 2015 Fact of the Day: How do Millionaires celebrate Mother's Day?
DID YOU KNOW THAT MORE THAN HALF OF MILLIONAIRES TAKE THEIR MOTHERS OUT FOR SOME TYPE OF MEAL ON MOTHER’S DAY?
Research recently completed by Spectrem Group indicates that Millionaires, and other affluent households, are likely to take their moms out on Mother’s Day. About 33 percent will take mom out to dinner while 23 percent will take mom to brunch. Women are more likely to take mom to brunch while men are more likely to take mom to dinner.
What else do Millionaires do for Mother’s Day? About 37 percent buy a gift for Mom and 42 percent buy a card. Two percent of those cards are e-cards. Women are more likely to buy a gift than men. It’s interesting to note that as net worth decreases, the likelihood to buy mom a gift increases. Thirty one percent of those with more than $5 million of net worth buy mom a gift compared to 49 percent of those with a net worth less than $100,000.
Twenty three percent of wealthy households don’t celebrate Mother’s Day at all. This is more likely with wealthier households (33 percent of those with more than $5 million of net worth don’t celebrate Mother’s Day)….which may be due to the fact that generally these households tend to be older.
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