Aussie Mum’s are in for a treat this Mother’s Day, according to new data from ANZ.
The banking giant is predicting its customers alone could splash up to $569 million this weekend, which would be a 2.5% increase on last year.
Food, clothing, beauty and jewellery are tipped to be the top spending categories, while surprisingly, last year’s figures suggest flowers won’t be as popular.
“Australians are set to spend generously and spoil their mums this Mother’s Day, with data showing a trend in wining and dining experiences,” ANZ Managing Director Everyday Banking Yiken Yang, said.
“We expect food, takeaway, wineries and bottle shops will continue to dominate customer spending this year – a promising sign for businesses and traders across the country.
“Conversely, while we still expect them to be popular places for customers to spend, we do anticipate some reduction in spend in flower shops, department stores, jewellery stores, and clothing stores,” Mr Yang said.
According to last year’s data, Aussies spent the most between the hours of 12pm and 2pm because there’s nothing like a last-minute dash to the shops!
Interestingly, men spent more in total on Mother’s Day, with an average spend of $131.
Gen X spent the most ($189m), followed by Millennials ($184m). While Gen Z spent the least ($78m), however they had the highest yearly increase of 15%.
