This Won't Be the Mother of All Mother's Days

Gift spending shrinks for poor old mom amid financial crunch
By Rob Quinn,  Newser Staff
Posted May 6, 2008 4:43 AM CDT
Mother's Day spending has fallen this year as consumers start to tighten their belts.   (Shutter Stock)
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(Newser) – Even gifts for mom aren't  immune to the economic crunch, Newsday reports. Spending on Mother's Day gifts is thought to be dipping, but only by an average of 50 cents, from last year's $139.14, according to a consumer survey. Only 13% of consumers plan to spend more this year.  Those just out of the nest—18 to 24 year olds—will shell out $30 more than other age groups, and 40% of them will spend more than last year.

"Consumers will be cautious with their wallets this Mother's Day, heeding Mom's advice that she really doesn't need much," said one retail expert. "Gas prices and other economic issues will still be at the forefront of people's minds as they shop for the perfect gift."