Father’s Day spending expected to be nearly even with 2014 |
Written by Christine D. Johnson |
Monday, 08 June 2015 05:09 PM America/New_York |
Spending for dad this Father’s Day is expected to reach $12.7 billion, according to the National Retail Federation’s 2015 Father’s Day Spending Survey. The average person will spend $115.57 on gifts, nearly even with last year’s $113.80, according to NRF’s survey conducted by Prosper Insights & Analytics. The survey found that 75.4 percent of Americans said they plan to celebrate Father’s Day. “After a less than stellar first half of the year, retailers are ready to welcome the warm weather and the millions of shoppers (who) come along with it and kick off the summer spending season just in time for Father’s Day,” said NRF President and CEO Matthew Shay. “Spending on grilling and patio necessities, pool gear, sporting goods, apparel and other gift and seasonal merchandise could be the positive stepping stone retailers need heading into the second half of the year.” When it comes to gifts for dad, four in 10 (39.7 percent) will purchase apparel items such as a dress shirt or necktie and will spend a total $1.7 billion overall. Another 43.3 percent will opt for experience gifts, such as tickets to a ballgame or a special meal with the family, spending a total of $2.6 billion. The survey also found that one in five (19.7 percent) shoppers will pick out new gadgets for dad such as a tablet or smartphone, totaling $1.6 billion. Additionally, four in 10 (39 percent) gift buyers will opt to let dad pick his own gift and will purchase a gift card, spending a total of $1.8 billion. Six in 10 (62.2 percent) consumers will thank dad with a greeting card and will spend more than $777 million overall. Loved ones also will spend on home improvement or gardening supplies ($710 million), new tools or appliances ($668 million), personal care items ($684 million), sporting goods or leisure items ($665 million) and books or CDs ($538 million). “After splurging on mom and graduates this year and recognizing that dad is a little more laid back when it comes to celebrations and gifts, consumers will keep spending similar to about what they spent last year on Father’s Day,” said Prosper’s Principal Analyst Pam Goodfellow. “Regardless, they’ll still find a way to make sure that dad has a special day, whether they’re taking advantage of sales and promotions or treating him to an experience he’ll never forget.” Consumers will look for gifts in a variety of stores, with most people planning to shop at department stores (36.4 percent), while others will shop online (29.2 percent) and at discount stores (25.2 percent); 16.9 percent will shop local at a small business. Shoppers on the move will use their smartphones and tablets to research and purchase gifts. About one-quarter of smartphone owners (24.1 percent) will use their devices to research gifts and compare prices, and nearly 3 in 10 (29.1 percent) tablet users will turn on their devices to do the same. Additionally 13.1 percent of smartphone owners will actually purchase gifts via their smartphones, and 17.5 percent of tablet owners will make a purchase with their devices. More than half of those surveyed are planning to buy for their father or stepfather (51.8 percent), while others will shop for their husband (27.6 percent) or son (8.9 percent) this Father’s Day. |