Beauty Store Business magazine - January, 2020

Father’s Day Spending to Top $12.5 Billion

Father’s Day Spending to Top $12.5 Billion

Total spending for Father's Day this holiday season is expected to reach $12.5 billion, according to the National Retail Federation’s 2014 Father’s Day Spending Survey, conducted by Prosper Insights & Analytics. Though slightly down from last year ($119.84), the average person will spend $113.80 on neckties, tools, electronics and other special gifts for dad.

“Knowing both cost and sentiment are important to their shoppers, retailers this Father’s Day will make sure to offer promotions on a variety of gift options, including home improvement items, tools and even apparel,” said NRF president and CEO Matthew Shay. “As more people look for ‘experience gifts’ with tickets to baseball games or a day on the golf course, retailers will also make sure to promote their gift cards for families hoping to create the perfect gift package.”

According to the report's findings:

  • 64.1% of people will give a greeting card
  • 42.6% will celebrate with special outings
  • 41.6% will treat him to new apparel items

Consumers will spend $641 million on personal-care items as gifts for dad; in addition:

  • $1.8 billion will be spent on gift cards
  • $1.6 billion will be spent on electronic gifts
  • $663 million will be spent on tools or appliances
  • $662 million will be spent on sporting goods or leisure items
  • $645 million will be spent on home improvement items
  • $555 million will be spent on books or CDs
  • $520 million will be spent on automotive accessories

Gifts will be sought out at a variety of locations, as consumer shop at:

  • discount stores, 28.1%
  • online, 28.4%
  • specialty stores, 24.2%

Furthermore, 16.6% say they plan to support their communities and shop at a local or small business, and 35.8% will head to dad’s favorite department store.

As 52.3% shop for dad or stepdad and 27.6% shop for their husband, many will be doing so on the go; making use of technology:

  • 30.6% of tablet owners will research products and compare prices on gifts using their tablet
  • 23.4% of smartphone owners will do the same
  • 18.2% will purchase products with their tablet for Father’s Day

“As we saw with Valentine’s Day and Mother’s Day this year, consumers are keeping to a strict budget,” said Prosper Insight’s Consumer Insights director Pam Goodfellow. “Whether they spend $10 or $100, millions of Americans will find creative, affordable ways to show dad how much they care.”

[Image: Vision]