May 8, 2015 Fact of the Day: How much do wealthy households spend on Mother's Day?
DID YOU KNOW THAT MORE THAN HALF OF WEALTHY HOUSEHOLDS SPEND OVER $50 ON MOTHER’S DAY GIFTS?
Research recently completed by Spectrem Group indicates that 36% of wealthy households spend $50-100 on mom for Mother’s day. Fifteen percent spend $100-$200 and 6% spend more than $200.
Men tend to spend more on Mother’s Day than women 25% spending more than $100 on mom compared to only 17% of women. Almost 40% of households with more than $5 million of net worth spend more than $100 on mom.
What are the most popular types of gifts for Mom? Forty four percent of investors send flowers while 14 percent give jewelry. Spa days and gift certificates are popular for 15 percent of investors. Nine percent give mom a day to herself to do what she wants. As wealth decreases, the likelihood to send flowers increases. Business Owners are also more likely to send flowers than other occupations.
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