Life Holidays Father's Day
There's Always Room in the Budget for
Father's Day Gifting
Giving a great big thank you to dads and all the men and father figures in our lives is worth spending time and money no matter how busy and broke we may be.
everywhere are gearing up for the only holiday in which wacky 'World's Greatest
Dad' neckties, golf clubs and barbecue sets prove to be thoughtful gifts.
"He may not ever expect the 'royal treatment' on Father's Day, but this year dad doesn't have much of a say as it's evident his loved ones want to make sure he has a great day," said NRF President and CEO Matthew Shay.
"For those looking for the perfect gift idea, retailers will have specials on everything from patio sets and grills to ties and gardening tools in the weeks leading up to the holiday," Shay added.
Total spending for Father’s Day is expected to reach more than $13 billion. In the days when your house being 'underwater' meant you needed to get your basement dried out, spending on Father's Day was big news. But if you expected the economy to reflect in spending for Father's Day gifts, you figured wrong.
What Father's Day gifts are most popular?
According to the survey, consumers stuck to the traditional gifts for dad, but some planned on splurging on clothing, electronic items, and special outings, such as a sporting event or dinner, $1.7 billion on a new electronic gadget, such as a tablet or GPS system, and $1.8 billion on clothing. Dad was also expect to receive plenty of gift cards as families shelled out $1.8 billion on the perfect practical gift. Others spent big on home improvement and gardening tools ($755 million), sporting goods ($710 million), personal care items ($707 million), and even automotive accessories ($592 million).
Which men get gifts?
Although most will buy for “dad,” Americans celebrate the other men in their life as well; more than half bought gifts for their father or stepfather (53.0%), and three in 10 (29.1%) planned something nice for their husband. Additionally, 9.7 percent bought a gift for their son, 4.9 percent looked for something for their grandfather and 6.4 percent shopped for their brother.
Department stores remain the preferred shopping location for gift buyers: four in 10 (40.6%) look for dad’s gift there. Others shop at discount stores (31.5%), specialty stores including greeting card/gift and electronics stores (27.3%), and specialty clothing stores (9.9%). Online retailers saw a slight increase in traffic in 2013; 29.8 percent shopped online, up from 28.4 percent last year. .
BIGinsight Consumer Insights Director Pam Goodfellow explains, "... this Father's Day it's evident that consumers want to thank dad for the support and undivided attention he provides throughout the year."
President and CEO, Tracy Mullin, said, "In spite of higher gas prices, lower
consumer confidence, and inflation concerns, shoppers are still opening their
wallets for what's really important."
And what's really important on Father's Day continues to be thanking Dads for all the giving they do throughout the year!