Springtime is full of major holidays, but don’t let Saint Patrick’s Day and Easter distract you from the real category killer that’s coming up in May. This may come as a surprise, but Time reports that Mother’s Day is the 3rd biggest retail spending holiday of the year. It’s the perfect time to start making sure you’re in-stock of all of those hot ticket inventory items come Mother’s Day…as well as how you’re going to create an exciting in-store environment to reel in last-minute shoppers.
Let’s take a look at which products are top sellers on Mom’s Big Day and discuss a few tactics to help those products fly off the shelves!
What They’re Buying
According to NRF, Mother’s Day shoppers last year spent an average of $186.39 a piece, with the most common Mother’s Day buys being: greeting cards (77.9 %), flowers (68.5%), experiences such as a meal or night out (55.9%), gift cards/certificates (45%), clothing (38.9%), and jewelry (35.5%). Although jewelry is purchased less frequently than cards or flowers, it ranks the highest in consumer spend. American consumers spend upwards of $5 billion on bling each Mother’s Day. Consider offering a complementary jewelry discount with a purchase of a greeting card and/or flowers to incentivize your customers to splurge on the big stuff and to make your store or boutique a one-stop-shop for last minute Mother’s Day finds.
Set Your Cards Apart
Customers won’t buy just anything for Mom on her big day. Everyone wants to get their loved ones something special and uniquely for “them” for Mother’s Day. So, there’s an opportunity to differentiate yourself from the competition with unique, highly-personalized products. As we discussed earlier, Mother’s Day is a major player in the greeting card and gift categories. However, a generic “Happy Mother’s Day” card with a picture of tulips on it simply isn’t going to cut it for most of today’s shoppers. Offer customers a greeting card selection that caters to a wide variety of tastes and price points with traditional cards, pop-up cards, bedazzled numbers and humorous cards with witty anecdotes. Not ready to introduce them to your store this spring? Attend ASD Market Week this summer to make sure your store is stocked with the right cards!
Price It Right
If you want your Mother’s Day inventory to fly off the shelves, hitting all of the right price points is half of the battle. Keep in mind that although $186.39 is spent on gifts by the average Mother’s Day shopper, this number represents the total amount spent on all gifts, not the amount spent on one person or product. Many customers buy for more than one person on Mother’s Day – in many cases this includes spouses, siblings and/or grandmothers as well. To offer inventory items that are affordable for customers who are purchasing for more than one maternal figure, you’ll want to stock up on everyday luxury items in addition to small gifts and add-ons such as books and novelty items. Offer promotions on items at a wide variety of price points so that shoppers can find the perfect gift for everyone they cherish on Mother’s Day.
Start Marketing Now
Mother’s Day keeps growing in terms of notoriety and consumer spending. Whether you opt to host an in-store event, sell mom-centric products, or simply stock up on jewelry and greeting cards before the big day, it’s essential to get a head start on your store’s Mother’s Day marketing campaign before the competition hits its stride. Set aside a few hours with your staff to take inventory photos and to schedule your Mother’s Day social media posts ahead of time with a marketing platform such as Hootsuite or Marketo. This will take the pressure off of your team to advertise leading up to the big day – while still reaching customers and generating retail attention.
Finally, the time is now to pick out your perfect store inventory and price points that will differentiate your company come May. Get a head start on your marketing initiatives to make Mother’s Day at your store a memorable retail holiday that your customers won’t soon forget.
Take advantage of ASD Market Week’s 90+ free retail strategy sessions this July 29 – August 2, 2018 in Las Vegas.
By Jasmine Glasheen, RetailMinded.com