While Father’s Day is considered to be among the smallest of American holidays, there is a sentimental importance attached to the occasion that is not forgotten among consumers. The National Retail Federation released a survey reporting that total spending will reach $12.5 billion.
Among the major findings of the NRF survey:
- On-the-go shoppers will use their smartphones and tablets to research and purchase gifts for dad this year.
- Nearly one-quarter of smartphone users will research products and compare gift prices on their smartphone, and 30.6% of tablet owners will do the same. About 18.2% of shoppers will purchase products with their tablet on Father’s Day.
- In fact, 28.4% of consumers are expected to shop online. This number falls behind discount stores at 28.1%. The biggest group of consumers – 35.8% – are expected to head to the department store.
- About 64.1% of people will simply say “thank you” to dad with a greeting card, while 41.6% will treat dad to new apparel items such as neckties and sweaters, spending a total of $1.8 billion.
- The average person is expected to spend $113.80 on neckties, tools, electronics and other gifts for Father’s Day. This total is slightly down from $119.84 in 2013.
- Consumers are expected to spend $1.6 billion on electronic gifts like smartphones and tablets and $1.8 billion on gift cards.
- When it comes to tools and appliances, consumers are expected to spend $663 million. Sales of sporting goods or leisure items for Father’s Day are expected to reach $662 million; home improvement items are expected to reach $645 million; personal care items are expected to reach $641 million; books and CDs are estimated to reach $555 million; and automotive accessories are expected to reach $520 million.