Father's Day Spending to Increase 10 Percent

Author(s): 
Donald Liebenson
Not to get your hopes up, Dads, but Father’s Day spending is forecast to increase 10 percent this year, according to a National Retail Federation survey. Loved ones will shell out $117 on gifts , up from $106 last year. Total Father’s Day spending is anticipated to reach an unprecedented $12.7 billion.
Mother’s Day can rest easy. It has a comfortable lead over Father’s Day (not that there’s a competition), ranking as the year’s second biggest buying holiday behind the winter holiday season (it also ranks behind Back to School spending, according to the NRF).  Father’s Day spending also lags behind Valentine’s Day and Easter, and it just ahead of Super Bowl spending.
Dad may have visions of lazing away Father’s Day in a hammock this Sunday, but family members have other plans in store, the NRF survey said. Loved ones are expected to spend $2.3 billion on special outings, such as golfing, eating out, or attending a sporting event. They will also spend $1.7 billion on electronic gift items as well as clothes and gift cards. Another $645 million will be spent on books or music and $641 million spent on sporting goods.
A majority (54 percent) of Father’s Day shoppers will be buying gifts for a father or stepfather. Twenty-nine percent will buy a gift for their husband.
“It should come as no surprise that dads are considerably more laid back when it comes to their special day, toping most times to simply spend quality time with loved ones at a restaurant or at home in the backyard,” observed Pam Goodfellow, Consumer Insights Director for BIGinsight, which conducted the survey. “But this Father’s Day, it’s evident that consumers want to thank dad for his support and undivided attention he provides throughout the year.”
While most shopping will be done at Department stores, mobile shopping for Father’s Day is on the rise, the NRF said. More than one-quarter of respondents said they will use their tablet to make a Father’s Day purchase, with more than half (55 percent) saying they will use their device to research products, compare prices, redeem coupons and look up store hours and location. Even more smartphone users (27 percent) said they will be using their devices to research gift ideas and to compare prices.
 
 
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Mother's Day Spending to Exceed $18 Billion: NRF

Source: http://www.millionairecorner.com/article/fathers-day-spending-increase-10-percent

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