Eighty-four percent of all adults say they will celebrate Mother's Day in 2022. Based on per capita forecasts from the National Retail Federation (NRF), Delaware Valley consumers are expected to spend $528 million on the moms in their lives. This is a 13% increase over last year.

“Consumers are eager to find memorable ways to honor their mothers and other important women in their lives and are willing to spend a little extra on this sentimental holiday,” said NRF President and CEO Matthew Shay.

The NRF spending projections indicate that Philadelphia consumers will spend $116.2 million on jewelry and another $87.9 million on special outings such as dinner or brunch. This will be the highest level of Mother's Day spending ever in these categories.

Here is how this large pool of Mother's Day cash in Philadelphia is expected to be distributed by all retail categories.

The NRF research indicates that men will outspend women 3-to-1 this year on Mother's Day gifts. Most of these dollars will go towards presents for their moms, stepmoms, and wives.

Of all the money spent, Philadelphia consumers are expected to spend 36% online, 30% at department stores, 27% at specialty stores, and 23% at local small businesses.

To compete for a share of record-high Mother's Day spending this year, local business owners will need to advertise. By most key marketing metrics, the best way to reach holiday shoppers is by advertising on Philadelphia radio.

Philadelphia area consumers are expected to spend close to $84.5 billion at retail in 2022, based on per capita spending estimates from the National Retail Federation (NRF). This would be an eight percent increase versus 2021.

To capture significant shares of the increased retail spending, the 230,328 small business owners in the Philadelphia area would typically invest in advertising. Persistent and pernicious inflation pressures, however, are starting to gnaw away at marketing budgets.

According to the National Federation of Independent Business Owners (NFIB), businesses cite inflation as their number one problem. For many Philadelphia business owners, uncontrollable wholesale, transportation, and labor costs are forcing retailers to raise the prices they charge their customers. But, for many retail products, inflated retail prices can drive customers away. 

To limit consumer price increases and still make a profit, Philadelphia business owners, then, are forced to cut expenses, including advertising and marketing. This means it is now imperative that the limited investments retailers can make in advertising must deliver the strongest returns possible. 

According to a recent study by Nielsen, advertising on Philadelphia radio can provide the best return on investment (ROI) for local retailers.

There are 230,328 small business owners in the Philadelphia area, according to the US Census Bureau. Each of these companies will need larger advertising budgets to successfully compete for a fair share of the expected explosion in consumer spending this year.

Based on new forecasts from The National Retail Federation (NRF), Philadelphia area consumers are expected to spend between $82.9 and $84.5 billion at retail in 2022, a six to eight percent growth over the previous year.

The NRF's forecasts exclude restaurants, gas stations, and automotive dealers. Included in the numbers, though, are non-store and online sales, which, in Philadelphia, could reach as high as $19.9 billion this year. This level of spending would be 13% more than in 2021.

Even though the rate of growth rate for 2022 is lower than the 14% jump in 2021, the NRF points out that this year's spending will be well ahead of the 10-year,  pre-pandemic growth rate of 3.7%

To participate in the expected surge in retail spending will require Philadelphia business owners to advertise. Especially if retailers want to hold their own against the continued growth of non-store and online competition.

Attention Delaware Valley small business owners and retailers: nearly half of the holiday shoppers are already spending money. According to the National Retail Federation, 49% of consumers will start their Christmas season shopping before Hallowe'en. 

Consumers plan to spend $997.73 on gifts, holiday items, and other non-gift purchases for themselves and their families this year, according to the annual survey released today by the NRF and Prosper Insights & Analytics.

In all, based on forecasts from Deloitte, the world's largest accounting firm, Philadelphia consumers are expected to spend between $21.3 and $21.6 billion during the holiday shopping period. This would be a 7-9% increase over 2020.

"We anticipate strong consumer spending for the upcoming holiday season. As vaccination rates rise and consumers are more comfortable being outside of the home, we are likely to see increased spending on services, including restaurants and travel, while spending on goods will continue to hold steady. A steady decline in the savings rate to pre-pandemic levels will support consumer spending and keep retail sales elevated this season," said Daniel Bachman, Deloitte's U.S. economic forecaster. "Further, e-commerce sales will continue to grow as consumers demonstrate an ongoing and steady movement toward buying online across all categories."

Philadelphia retailers are noticing that the opening bell for holiday shopping has rung earlier than ever for local shoppers.

Delaware Valley consumers are on track to spend more than $75.9 billion at retail this year, based on projections by the National Retail Federation (NRF). Spending is expected to be 13.5% higher than last year.  

Some Philadelphia small business owners, though, are wondering if the spread of the Delta Variant may slow spending if consumers sense pressure on their own financial security. Shoppers, however, don't see it that way.

New research from Nielsen indicates that 82% of consumers believe their household finances will either remain the same or improve during the upcoming months.

The Nielsen study has another finding that Philadelphia business owners will find promising. Consumers are more likely to shop locally than they did before the onset of the pandemic, although in different ways.