Mum’s the word on Mother’s Day spending

A mother’s love is priceless, but as Mother’s Day approaches, Australians loosen the purse strings as they look for ways to celebrate the mothers in their lives.

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Spending data from ANZ customers gives insights into Mother’s Day spending trends, with customers spending more than half a billion dollars over Mother’s Day weekend last year.

"for those wanting to dazzle Mum further, jewellery and precious stones are crystal clear ways to impress”

In 2023, ANZ customers spent a total of $543.5 million on their debit and credit accounts over Mother’s Day weekend, an 6 per cent rise on 2022 and an additional $23 million in consumer spending compared to other weekends in May.

Comparing year on year customer spending trends suggests Australians may spend even more in 2024.

Wine, dine and diamonds

Last Mother’s Day, ANZ customers splurged on spoiling Mum with dining out, alcohol, flowers, precious stones, watches and jewellery. This included spending of $74.9 million across cafes, restaurants and takeaway venues – a 7 per cent increase on 2022.

Similarly, bottle shops and wineries raised a glass to Mum with $27.55 million spent during Mother’s Day 2023, a jump of 15 per cent from a year earlier.

Flowers also continue to brighten Mum’s day, with spending soaring 242 per cent higher than the other weekends in May. Close to $5 million was spent at florists last year.

But for those wanting to dazzle Mum further, jewellery and precious stones are crystal clear ways to impress. ANZ data shows almost $6 million was spent on these items last Mother’s Day – an 8 per cent increase year on year.

Other once popular gifts such as clothing and accessories and travel saw a dip in spending last year though, with a 3 per cent fall to $27.75 million and a 7 per cent drop to $13.75 million respectively.

Who’s spending on what?

When comparing spending data across men and women, men opened their wallets wider, spending $43.38 million compared to women who spent $30.87 million. Part of this gender spending gap could be attributed to men purchasing gifts for both their partners and their mothers, grandmothers or other mother-figures in their lives.

Men aged between 40 to 50 dominated spending at florists, whereas sons and fathers aged between 30 to 40 preferred spending on entertainment.

Doting daughters delivered in the spend on precious stones, jewellery and watches, with women spending $3.10 million compared to men who spent $2.82 million. Women aged between 30 to 40 dominated the spending across the industry.

Around Australia, which states’ mothers felt the most spoilt?

Victorians were victorious for Mother’s Day spending last year with $155.02 million, also spending the most on health, beauty and hairdressing during that period.

New South Wales and Queensland followed the southern states closely, spending $144.47 million and $105.22 million respectively.

The biggest increases in spending however were in the Northern Territory, soaring 9.84 per cent year-on-year and Western Australia up 8.01 per cent.

Whether you choose to buy your Mum a bottle of the finest champagne or something more low-key, it appears cost of living pressures aren’t enough to keep us from splurging on our Mums for Mother’s Day.

Yiken Yang is Deposits and Payments Lead, ANZ

The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.

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