Mum's the word as Aussies expected to splurge despite rising cost of living

This comes as research from the Australian Retailers Association (ARA) in collaboration with Roy Morgan revealed Aussies are expected to spend an extra $166 million from 2022 to celebrate Mother’s Day.

Surveying more than 1,600 Aussies, nearly half aged 18 or over noted they plan to buy gifts for someone for Mother’s Day. 

Further, those who plan on buying a gift for their Mum will spend an average amount of $92 each, up from $80 in 2022. 

ARA CEO Paul Zahra said amid ongoing cost of living pressures, many will be making an exception to spoil their mums – or in some instances other special people in their lives.

“It’s an important milestone to celebrate the immense contribution of mums and the sacrifices they make, but many Australians also take the opportunity to show their appreciation for their partners, caregivers, and other family members," Mr Zahra said.

“With an occasion such as Mother’s Day, we typically see shoppers becoming more selfless. While people may be reluctant to spoil themselves due to the high costs of living, they’re still enthusiastic to splash out on loved ones. 

“A lot of Aussies will likely opt to arrange a family feast, which will certainly provide a much-needed boost for food and hospitality businesses.” 

The expected boost in consumer spending for Mother’s Day has the potential to influence a number of data sets in the months ahead, despite economists foreshadowing household spending to continue to weaken.

CommBank’s Household Spending Intentions Index revealed retail spending intentions were down 1.0% in original terms in April, following a strong 12.6% rise in March.

CommBank Economists noted in April the index revealed the largest gains in retail spending were on grocery stores, take-away, alcohol, family clothing stores, pet shops, cosmetic stores and duty free stores.

“This has been partly offset by falls in spending on department stores, household appliances, plant nurseries, hardware, floor coverings, luggage stores, florists and office furniture,” CommBank economists said. 

The research conducted by ARA and Roy Morgan revealed May figures may tip retail spending back in favour of department stores with the the most popular gifts for Mother’s Day tipped to be flowers (16%), gift cards (7%), homewares (6%) and clothing (6%).

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