• Julia L. Xu

3 Customer Purchase Behavior Insights on Mother's Day Gifts


What should I sell as a small business owner on Mother's Day?

Data speaks TRUTH. Let's take a look at the three customer purchase behaviors on Mother's Day gifts you should know about: what they buy, what they consider, and how much they plan to spend! (Source: Statista)


1.

Top 5 on the list (share of respondents - multi-selection):⁠⠀ 📨Greeting Cards (74%)⁠⠀ 🌷Flowers (64%)⁠⠀ 💳Gift Cards (49%)⁠⠀ 🎉Special Outing (46%)⁠⠀ 🧣Clothing / Accessories (39%)⁠

2.

People value gifts that are (share of respondents - single selection):⁠⠀ 💖Unique or Different (43%)⁠⠀ 💭Creates Special Memory (41%)⁠⠀ 🙋🏻‍♀️Convenient for Me (25%)⁠⠀ 💰Most Cost-Effective (17%)⁠⠀

3.

The average planned spending on Mother's Day has been increasing over the decade at a CAGR of ~5%, reaching $205 in 2020!



Finance Term of the Day: CAGR (Compound Annual Growth Rate)

Definition (Source: Investopedia)⁠⠀ "CAGR shows the rate of return of an investment over a certain period of time, expressed in annual percentage terms.⁠ The easiest way to think of CAGR is to recognize that over a number of years, the value of something may change, but often at an uneven rate.⁠ The CAGR provides the ONE RATE that defines the return for the entire measurement period.⁠"⠀ Formula: CAGR=(Ending Balance/Beginning Balance)^(1/Number of Years)-1 Or in Excel, just use =RRI(Number of Years,Beginning Balance,Ending Balance) So think about it... What CAGR do you want your business to achieve in 5 years?⠀ Want to learn more about data insights, financial terms, excel tricks, or want to have beautiful charts like this in your pitch decks? Book a free consultation today!

Contact Me

Julia L. Xu

Independent Startup Business Consultant

Phone:

718-288-6740

Email:

julia@juliaxuconsulting.com

Location:

New York, NY

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© Julia Xu 2020