2024-05-12 18:53:40
93% of Colombians intend to celebrate this date, a figure that reaches levels observed before the pandemic. It is evident that, despite the reduction in interest rates by the Bank of the Republic, households continue to show extreme caution when making purchase decisions.
Diario del Huila, Economy
Colombian businesses are looking forward to Mother’s Day, to be celebrated the weekend of May 11 to 13, as a possible respite after more than 16 months of continuous challenges. According to the National Federation of Business Merchants (sales-did-not-raise-their-heads-in-the-first-quarter-of-2023-2024-04-18-102425/” title=”Sales did not 'raise their heads' in the first quarter of 2023
– 2024-04-18 10:24:25″>Fenalco), this date usually translates into significant increases in sales for the sector. Jaime Cabal, president of the union, stated that a 30% increase in sales is expected compared to the same period last year.
“It is evident that, despite the reduction in interest rates by the Bank of the Republic, households continue to show extreme caution when making purchase decisions; However, since it is the second most important commercial date in the country, Colombians will surely go out and buy the best gifts for mothers.“said the leader.
In May 2023 the usury rate, which is the reference for the rate charged for purchases with credit cards, was at 46% and currently dropped to 31%, while annualized inflation, which was at 12 .8% a year ago, it is expected that at the end of April it will be below 7.2%, which generates better purchase options than last year for this date.
Fenalco Survey
According to Fenalco’s annual survey on the commercial dynamics around this celebration, 93% of those surveyed intend to commemorate this date, a figure that reaches levels observed before the covid-19 pandemic.
In addition to the traditional lunch or dinner, Colombians will mostly give away clothes, shoes and handbags (37%); Good news for the fashion cluster, which has performed poorly after the back-to-school season in January.
Business owners and restaurants, mainly, have discounts, promotions and activities prepared for this celebration. The fact is highlighted that, according to the survey, about a third of gifts are purchased on the eve of the second Sunday of the year.
Among the top gifts for mothers are also the following:
Cell phones and other electronic items (12%), Bonds/money (11%), Others-concerts/travel/books/liquor- (9%), Perfumery/cosmetics (7%), Spa/gym sessions (5% ), Jewelry/watches/costume jewelry (4%) and Flowers (3%).
How much will be invested in gifts
The results of the survey, which was carried out in the main cities of the country, indicate that there will be an increase in the budget for mother’s gifts. This year 32% will spend between $100,000 to $200,000 and 23% will spend up to $100,000.
When it comes to giving gifts to mothers, four out of ten Colombians prefer to ask them directly what they want. However, to keep in mind, only 7% believe that they love receiving gifts and 71% maintain that what mothers love is to share their special day with the family, while 12% think that they prefer to be treated in a special way. 9% believe that they enjoy rest.
What the children will give
Children, for the most part, buy gifts in specialized stores (34%); online (16%); department stores (14%). Supermarkets and catalog sales are less popular options.
“Next Sunday and the remainder of the month, merchants will redouble their efforts to implement promotional activities, discounts, and price reductions, among other activities that seek to serve thousands of Colombians and of course boost sales in the sector.”, concluded the president of Fenalco, Jaime Cabal.
Other data
Fenalco also revealed other relevant data about this festival, which is one of the ones that most drives the economy in the country. The tourism, restaurants and shopping centers sectors will benefit, according to the projections made by the Federation.
According to their figures, during the weekend, which also has a long holiday, 15% of families plan to leave the city, while 52% of residents who remain in the capital will choose to dine out, and the The remaining 48% prefer to organize themselves at home to avoid midday congestion, although they are inclined to visit shopping centers in the afternoon.
What do Neivans think?
Maria, housewife: «I’m excited to celebrate Mother’s Day this year. “After so many difficult months, it is comforting to see that interest rates are falling and inflation is more under control.”
Andrés, university student: «This year I want to surprise my mom with an incredible gift. Although the economic situation has been complicated, I am willing to spend a little more to make her happy on her day.
Rosa, office worker: «I don’t want to miss Mother’s Day. I’m going to invest a little more this year on a special gift for my mom. “She deserves everything.”
Juan, businessman: «As a merchant, I am optimistic about Mother’s Day sales. The Fenalco survey shows that the intention to celebrate this date is at its highest point, which means a good opportunity to boost the sector and, at the same time, make our mothers happy.
Alejandra, fashion designer: «As part of the fashion cluster, I am excited to see that people are planning to buy clothes, shoes and bags to give as gifts on Mother’s Day. “After a difficult season, this represents a positive boost for our industry.”
Carlos, worker in the restaurant sector: «I am prepared for a busy weekend at the restaurant. With special discounts and promotions, I hope families choose to celebrate Mother’s Day with us. “It will be an opportunity for mothers to enjoy a special meal and for us, as a sector, to regain some lost ground.”
recommendations for the celebration of Mother’s Day:
· Be tolerant, avoid quarrels and behaviors contrary to coexistence that affect your neighbors or peers.
· If you are going to consume liquor, do so in moderation and in places you trust.
· Be wary of drinks with lower prices than those regularly found on the market.
· If you are traveling, do not leave pets alone at home, as they can alert criminals.
· It is vital to carry out a technical-mechanical inspection of your vehicle before embarking on the trip (fluids, brakes and condition of the tires).
Recommendations for drivers:
· Have your vehicle inspected before traveling.
· Rest and sleep enough, so you can drive relaxed and without sleep.
· If you are going to drive, do not consume liquor.
· Always wear your seat belt.
· Drive carefully and without haste.
· Do not perform dangerous maneuvers (do not go forward in a curve or in a continuous line)
· Do not exceed the established speed limits.
· Do not carry excess passengers.
· Avoid driving while using a cell phone.
· Drive for periods of less than three hours.