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DaVinci Speakers
June 8th, 2006 at 1:15 am

Father’s Day Spending

According to the "Father’s Day Consumer Intentions and Actions Survey," from the National Retail Federation (NRF), conducted by BIGresearch, spending on Father’s Day in the US this year is expected to reach $9 billion, and that is up from last year’s $8.2 billion.

 

When it comes to spending on gifts for Dad, the average person is expected to spend $88.80, which is not as high as the $122.16 spent on Mom earlier this year — but it’s not bad, for Dads or retailers.

"In spite of higher gas prices, lower consumer confidence and inflation concerns, shoppers are still opening their wallets for what’s really important," said NRF CEO Tracy Mullin. "Because retailers across all channels and formats have something to gain from Father’s Day spending, we expect the holiday to be quite promotional this year."

When it comes to where consumers are shopping for gifts for Dad, 32% of the survey said they plan to go to department stores, 30.6% to specialty stores and 29.7% to discounters (29.7%). Other popular locations include online, specialty-clothing stores and catalogs.

Only 15% of the survey indicated that they would shop online for Dad.

And what will Dads get? Most will receive a card. Almost 69% of consumers reported that they will purchase at least one card for Father’s Day. Two other favorites are special meals, at 38.1%, and clothing (think ties), at 32%.

Not surprisingly, women are the lead spenders for this holiday, with average per-person spending anticipated to reach $90.41, about the same as 2005 spending at $91.46. Men will shell out approximately $87.07 for dad this year, higher than the $79.42 average last year.

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