Strome Business Minute With Dr. Jeff Tanner

Maybe it’s because we couldn’t take Mom out for dinner or maybe we just wanted to make this Mother’s Day special but whatever the reason, Americans spent more on Mother’s Day this year than we did last year. Gifts nearly reached twenty seven billion dollars, up eight and a half percent from last year, driven by an increase in the number of people buying Mother’s Day gifts as well as an increase in the average spent. And before we get too far into thinking it’s all a commercial racket, this year’s presents tended to be more sentimental and personalized, according to Profitero’s analysis of Amazon data. And while Profitero’s research found that gifts involving social outings were down nine percent, most men still plan a special outing for mom – we just don’t know when. To learn more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.