Poor old Dad. Consumers surveyed by BIGresearch for the National Retail Federation plan to spend an average of $86.19 on Father’s Day gifts this year. That’s down 13.5% from last year’s $99.65. Overall Father’s Day spending will reach $8.04 billion, a far cry from what Mom got this year when consumers spent $10.43 billion on her gifts.
Popular Father’s Day gifts this year will include clothing (35.6%); gift cards or gift certificates from stores, catalogs, and Websites (27.6%); and books or CDs (23.8%). Perhaps, though, kids are more intent on treating Dad nicely this year: After all, the survey shows that 41.6% are planning a special outing for Dad on Father’s Day—possibly in lieu of a gift? (Then again, who’s to say that “event” doesn’t consist of lounging around watching Dad mow the lawn in 90-degree heat?)
“Consumers still appear a little cautious when it comes to discretionary spending,” NRF president/CEO Tracy Mullin said in a statement. “Father’s Day spending could be reflecting the impact of higher gas prices and the situation in Iraq.”