GIFT NEWS |
Written by Christine D. Johnson |
Wednesday, 16 June 2010 11:39 AM America/New_York |
Father's Day spending up slightly As the economy continues its slow rebound, Americans will spend slightly more on the most important men in their lives this Father's Day, to be celebrated Sunday, June 20. The average person will spend $94.32 on dad this year, up from $90.89 last year, according to the National Retail Federation's 2010 Father's Day Consumer Intentions and Actions Survey, conducted by BIGresearch. Total Father's Day spending is expected to reach $9.8 billion. "A slight uptick in Father's Day spending is another sign people are starting to open up their wallets again," said NRF President and CEO Matt Shay. "Whether it's a large family get-together or surprising dad with the new gadget he's had his eye on, there are many ways people will choose to celebrate this year." Others will shell out $1.2 billion on electronics, $749 million on greeting cards, $578 million on tools or appliances, $550 million on home improvement or gardening tools and $400 million on automotive accessories. Three out of 10 (31%) will give dad a gift card, spending an estimated $1.2 billion on those purchases. |