Washington, June 3, 2010 – As the economy continues its slow rebound, Americans will spend slightly more paying homage to the most important men in their lives this Father’s Day. According to NRF’s 2010 Father’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, the average person will spend $94.32 on dear ole dad this year, up from $90.89 last year. Total Father’s Day spending is expected to reach $9.8 billion. *
Shiny new toys for dad will be one of the biggest hits this year, along with special outings, gift certificates and clothing. The survey found 39.9 percent of those celebrating dad this year will treat him to a special outing such as dinner or brunch, spending $1.9 billion. With 36.7 percent planning on spending a total of $1.3 billion on clothes, dad can expect a few more work shirts and ties to add to his collection as well. Others will shell out $1.2 billion on electronics, $749 million on greeting cards, $578 million on tools or appliances, $550 million on home improvement or gardening tools and $400 million on automotive accessories. Three out of 10 (31.2%) will give dad a gift card, spending an estimated $1.2 billion on those purchases.
“A slight uptick in Father’s Day spending is another sign people are starting to open up their wallets again,” said Matt Shay, President and CEO, NRF. “Whether it’s a large family get together or surprising dad with the new gadget he’s had his eye on, there are many ways people will choose to celebrate this year.”
When it comes to where people will purchase their gifts, discount stores (34.4%) and department stores (34.1%) will see the most traffic. Specialty stores such as greeting card or gift stores (26.4%), online (20.5%) and specialty clothing stores (7.6%) will also be popular shopper destinations.
Most people will buy for their father or stepfather this holiday (49.3%) but others will treat their husband (27.1%), son (7.4%), grandfather (4.4%), brother (5.1%) and friend (4.9%) to something nice.
Oftentimes dad is seen as the glue that holds the family together, whether for financial reasons or his love and devotion to his family. There’s no other time it makes more sense to celebrate the man who makes it all ‘better’ than Father’s Day,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch.
About the Survey
The NRF 2010 Father’s Day Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Father’s Day holiday. The survey was conducted for NRF by BIGresearch. The poll of 8,431 consumers was conducted from May 4-12, 2010. The consumer poll has a margin of error of plus or minus 1.0 percent.
BIGresearch is a consumer market intelligence firm that provides unique Consumer Insights that are gathered online utilizing very large sample sizes. BIGresearch’s syndicated Consumer Intentions and Actions survey monitors the pulse of more than 8,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.
As the world’s largest retail trade association and the voice of retail worldwide, the National Retail Federation’s global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the U.S. and more than 45 countries abroad. In the U.S., NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2009 sales of $2.3 trillion. www.nrf.com
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This post was written by Metoo