By Jay Forte, Contributing Reporter
RIO DE JANEIRO, BRAZIL – A survey by the Brazilian Institute of Economics of the Getulio Vargas Foundation (IBRE-FGV) released last Thursday, May 10th, reveals that Brazilians intend to spend more this year on Dia das Mães, or Mother’s Day (on Sunday, May 13th), compared to last year.
The average value of those Mother’s Day gifts rose eleven percent to R$108, compared to an average of R$98 in 2017. For consumers with higher purchasing power (family income higher than R$9,600), the average price of the present is R$180, against R$164 in 2017.
According to the coordinator of IBRE Consumer Survey, Viviane Seda, the positive disposition of the consumer is a reflection of the improvement of the expectations regarding the financial situation of the families. “There was an increase in the average value for all income brackets and also the intention to buy for all income brackets,” she said.
The indicator measuring the intention to spend for the holiday increased by 9.9 points, from 59.4 in 2017 to 69.3 this year, the best performance since 2014. Seda pointed out that the highest increase in spending intentions was observed for the monthly family income range between R$4,800 and R$9,600 (fourteen points).
For the lowest income bracket, up to R$2,100 per month, the increase was lower (6.9 points). Despite this, this category showed the highest growth in the average value of the present (25 percent), which reaches R$63 this year, against an average value of R$51 in 2017.
The survey also shows that clothing and perfume are among the items that lead consumers’ preference for the date, cited by 50.4 percent and 10.6 percent of respondents, respectively. Viviane Seda said that apparel represents the largest preference as it allows for consumers to find prices at all levels.
“There is a wide variety of product types within apparel and at all prices. So, you please all audiences. Therefore, it is easier for this type of product to be preferred among consumers.”
Shopping aside, Kelly Ronchi, a Brazilian with the language school Brava Training in Rio, shared, “In my opinion the best way to celebrate is to be present, even if at a distance, for the people we love. It is not necessary to have expensive gifts. Often a simple and true message means much more than a gift.”