TORONTO, ONTARIO — (Marketwire) — 05/11/12 — According to BMO-s 2012 Mother-s Day Survey, 73 per cent of Canadians polled said they are getting mom a gift this Mother-s Day and plan to spend an average of $84.16.
Mother-s Day typically generates the second highest volume of weekend shopping in the year as measured by dollar value: bigger than Valentine-s Day and second only to spending leading up to the Christmas holidays.
In 2011, consumer spending increased 5 per cent during Mother-s Day weekend compared to the previous year. Although consumer confidence is down slightly in 2012, BMO Economics notes that it remains close to normal levels, which is good news for retailers and restaurateurs.
BMO-s 2012 Mother-s Day Survey revealed that, on average, men plan to spend $105 on their mothers, $43 more than women, who budgeted $62.
Does a bigger gift mean a bigger heart? “I don-t think so,” said Jennifer Weisman, Director, BMO Bank of Montreal. “The difference in spending is more likely a measure of practicality than it is of love,” observed Ms Weisman, who noted that appreciative children can be frugal and generous at the same time because of an array of unique merchandise and services that are becoming more readily available through loyalty rewards programs.
“The budget conscious who want to treat mom to something special this year should consider using their loyalty rewards for their Mother-s Day gift. With BMO-s World ELITE® Rewards and the AIR MILES® Reward Program, you can redeem your rewards to surprise and delight mom with uniquely personal experiences such as a spa treatment, a weekend away, or the latest electronics such as an e-reader or tablet. It-s a great way to show your generosity while also managing your budget,” said Ms Weisman.
So what kind of gifts can mom expect this year? Canadians say they plan to:
Canadians indicate that credit cards remain the most preferred method of paying for Mother-s Day purchases. Cardholders are particularly attracted to special features such as purchase protection, extended warranties, zero liability, loyalty rewards and low-interest rate options which add significant value and peace of mind.
BMO offers budget-smart strategies for Mother-s Day shoppers:
Regional Findings
The survey was completed from April 23-26, 2012, using Leger Marketing-s online panel, with a sample of 1500 Canadians. A probability sample of the same size would yield a margin of error of 2.5 per cent 19 times out of 20.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $538 billion as at January 31, 2012, and more than 47,000 employees, BMO Financial Group provides a broad range of retail banking, wealth management and investment banking products and solutions.
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