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NRF: Father’s Day Spending Forecasted To Reach $12.7B

Spending for dad on Father’s Day is expected to reach $12.7 billion for golf lessons, home improvement tools, coffee mugs and more. According to NRF’s 2015 “Father’s Day Spending Survey” conducted by Prosper Insights & Analytics, the average consumer will spend $115.57 on gifts, nearly even with last year’s $113.80. The survey found 75.4% of consumers said they plan to celebrate Father’s Day.

When it comes to gifts for dad, four in ten (39.7%) will purchase apparel items such as a new dress shirt or necktie and will spend a total $1.7 billion overall. Another 43.3% 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%) shoppers will pick out new gadgets for dad such as a tablet or smartphone, totaling $1.6 billion. Additionally, four in 10 (39%) gift buyers will opt to purchase a gift card, spending a total of $1.8 billion. Six in ten (62.2%) consumers will use a greeting card and will spend more than $777 million overall.

The survey reported that other gifts could include 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).

By retail channel, consumers planned to shop at department stores (36.4%), while others will shop online (29.2%) and at discount stores (25.2%); 16.9% will shop local at a small business.

About one-quarter of smart phone owners (24.1%) will use their devices to research gifts and compare prices, and nearly three in 10 (29.1%) tablet users will turn on their devices to do the same. Additionally, 13.1% of smartphone owners will actually purchase gifts via their smartphones and 17.5% of tablet owners will make a purchase with their devices, the survey noted.

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