Father’s Day 2012 – Retail Spending Up

Strategy Plan One

June 15, 2012 

Father’s Day 2012 – Trends in Retail Spending

Business and marketing plans can be developed around the volumes of business that calendar events can bring.  Certain days and periods in the calendar, such as Christmas and Easter can make or break retail and service businesses.  However, many spots in the calendar create billions in economic activity for the US business sector.

Similar to Mother’s Day earlier this year, retail spending around Father’s Day has been projected to increase favorably to $12.7 Billion.  According to a recent survey conducted by National Retail Federation, spending will be up by an estimated 10% this year, with estimated average spending at $117.14.

Of the projected $12.7 Billion in Father’s Day spending, here are the big-ticket items Dad’s will be receiving:

• $2.3 Billion on taking Dads to special outings
• $1.7 Billion on electronic gifts
• $1.7 Billion on clothing for Dads
• $645 Million on books and music, and 
• $641 Million estimated on sporting goods for gifts

Whether you are a retail business with a store front or online, take note of the survey data on where purchases have been estimated to occur:

• 41.6% will shop for Father’s Day gifts at department stores
• 34% will hit a discount store for a cheap Father’s Day gift
• 28.6% at electronic stores, and 
• 28.4% of all purchases will occur through online retail sites

Moving with the mobile trends in recent news, 26.7% of smartphone users will utilize their devices to research and purchase gifts.

As you develop your business and marketing plans for your retail or services business, keep on track with the massive potential opportunities around calendar events, such as Father’s Day.

Other relevant blogs and articles on economic indicators:

• Construction Industry – April 2012 Economic Statistics Continue to Climb
• Travel Industry – Statistics and Impacts on the US Economy
• London Olympics – Statistics and Business Opportunities [infographic]
• Economic Indicators – Residential Construction and Sales Showing Positive Signs
• Marketing Opportunities – Changing the Daily Deal Model [Infographic]
• Mother’s Day 2012 – Retail Projections Looking Marvellous

Strategy Plan One

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Business information, resources and tips for the entrepreneur

© 2012 Strategy Plan One

Strategy Plan One

May 13, 2012

Mentoring … From our Mothers

Many successful entrepreneurs can dig into their pasts and can identify key factors that had contributed to their successes.  Many will cite and give thanks to their Mothers as a key source in providing advice and helping to build those key competencies and characteristics of a successful entrepreneur.

Throughout the years growing up, your Mother may have provided and supported you with the foundation of necessary characteristics such as dedication, pushing you to never give up and keep working towards achieving a goal.

Hard work ethic carried forward into this generation of entrepreneurs as Mothers demonstrated all the massive efforts necessary to take care of the family needs and outside employment and self-employment to support the family.

Providing us with a solid base of values and ethics, Mothers taught us to respect others, to be fair and to strive for excellence.  Some of these core values are key in life and in business.

Mothers would push us to be problem solvers when we were in challenging circumstances, whether it be at play or at work.  Mothers supported us to be independent, but also to rely on others, as family and teams can work together towards a common goal.

Mothers would support us in our ambitious drives throughout our lives, encouraging us to meet our goals and objectives.  Much positive reinforcement from your Mother has been carried forward in your leadership skills, as you motivate the people around you in a constructive, positive manner.  Whether at home, in the communities or in careers,Mothers showed us great leadership skills that we all apply to our everyday lives.

A big thanks to Moms who had a significant role in our successes.

Happy Mother’s Day!

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur

Mother’s Day 2012 – Retail Projections Looking Marvellous

Strategy Plan One

May 1, 2012 

Mother’s Day 2012

Are you an entrepreneur in retail and considering sales and marketing opportunities around Mother’s Day?  The National Retail Federation (NRF) has posted statistics and projections for Mother’s Day 2012.  Similar to the patterns of other calendar events in 2012 like St. Valentine’s Day, Patrick’s Day, and Easter, the upward, projected trend is welcoming.

Mother’s Day 2012 – NRF Survey

According to the NRF survey, retail spending is projected to increase 8.4% over 2011 Mother’s Day spending, with total spending for 2012 expected to reach a whopping $18.6 Billion.  The survey data suggests that the average spending per person buying Mother’s Day gifts is now estimated to be over $152.

The following graph, courtesy of NRF, illustrates a favourable, turn-around trend over the past 5 years, with stabilization occurring in 2009-2010, following by significant spending increases in 2011 and 2012.  Let’s hope this trend continues.

  

To make Mom feel the best on her day, here’s the top of the spending list:

• $3.4 Billion on a brunch or dinner for Mom (54.3% of celebrators)
• $2.2 Billion on flowers (66.4% of shoppers)
• $1.8 Billion on gift cards
• $1.6 Billion on clothing and accessories
• $1.6 Billion on electronics, tablets, digital cameras (12.7%), and
• $1.3 Billion in spa treatments and personal services (Ahhh for Moms!)

From the tech perspective, almost 40% of potential shoppers surveyed will scan their mobile devices and tablets for the deal of all deals for Mother’s Day.  About 24% of tablet owners will use their devices for Mother’s Day purchases.  App developers should pay close attention to the increasing trend of utilizing apps in devices to research and purchase products; 12% of device owners will be utilizing apps in this NRF survey, conducted by BigInsight.

Retail Industry – Indicators

As previously reported, the retail and food industry indicators in March showed marked improvements upward.  The US Census Bureau stated a 6.5% increase in retail revenue over March 2011.

The projected trends overall in the retail sector and around calendar events for 2012 are very consistent in the 5-8% increase range.  As an entrepreneur and business owner in the retail sector, tune in and analyze some of these trends in the retail industry.

Strategy Plan One

http://strategyplanone.com

Business information, resources and tips for the entrepreneur