FatherÛªs Day Spend to Hit $12.7 Billion
Three in 10 will shop online for Father's Day. Online shoppers plan to spend an average of $157 ÛÓ higher than the typical Father's Day shopper ÛÓ and nearly 4 in 10 plan to use their smartphones to research products and compare prices, according to Shop.org's Online Shopping Outlook for Father's Day 2015. FatherÛªs Day Spending to Reach $12.7 Billion, According to NRF Survey.
FatherÛªs Day might not be the most lucrative consumer holiday of the year for retailers, but spending for dad is expected to reach $12.7 billion for golf lessons, home improvement tools, coffee mugs and more. And, according to NRFÛªs 2015 FatherÛªs Day Spending Survey conducted by Prosper Insights & Analytics, the average person will spend $115.57 on gifts, nearly even with last yearÛªs $113.80. The survey found 75.4% of Americans said they plan to celebrate FatherÛªs Day.
"After a less than stellar first half of the year, retailers are ready to welcome the warm weather and the millions of shoppers that come along with it and kick off the summer spending season just in time for FatherÛªs Day,Û said NRF President and CEO Matthew Shay. ÛÏSpending on grilling and patio necessities, pool gear, sporting goods, apparel and other gift and seasonal merchandise could be the positive stepping stone retailers need heading into the second half of the year.Û
When it comes to gifts for dad, 4 in 10 (39.7%) will purchase apparel items such as a new dress shirt or necktie and will spend a total $1.7 billion overall. Another 43.3% will opt for experience gifts, such as tickets to a ballgame or a special meal with the family, spending a total of $2.6 billion.
The survey also found that one in five (19.7%) shoppers will pick out new gadgets for dad such as a tablet or smartphone, totaling $1.6 billion. Additionally, four in 10 (39%) gift buyers will opt to let dad pick his own gift and will purchase a gift card, spending a total of $1.8 billion. Six in ten (62.2%) consumers will thank dad with a greeting card and will spend more than $777 million overall.
Loved ones will also spend on home improvement or gardening supplies ($710 million), new tools or appliances ($668 million), personal care items ($684 million), sporting goods or leisure items ($665 million) and books or CDs ($538 million).
Consumers will look all over for gifts, with most people planning to shop at department stores (36.4%), while others will shop online (29.2%) and at discount stores (25.2%); 16.9% will shop local at a small business.
"After splurging on mom and graduates this year and recognizing that dad is a little more laid back when it comes to celebrations and gifts, consumers will keep spending similar to about what they spent last year on FatherÛªs Day,Û said ProsperÛªs Principal Analyst Pam Goodfellow. ÛÏRegardless, theyÛªll still find a way to make sure that dad has a special day, whether theyÛªre taking advantage of sales and promotions or treating him to an experience heÛªll never forget."
Shoppers on the move will use their smartphones and tablets to research and purchase gifts they know dad will love. Approximately 1/4 of smart phone owners (24.1%) will use their devices to research gifts and compare prices, and nearly three in 10 (29.1%) tablet users will turn on their devices to do the same; additionally 13.1% of smartphone owners will actually purchase gifts via their smartphones and 17.5% of tablet owners will make a purchase with their devices.
More than half of those surveyed are planning to buy for their father or stepfather (51.8%), while others will shop for their husband (27.6%) or son (8.9%) this FatherÛªs Day.
Father's Day gift shoppers are feverishly searching the web for the best deals and best ideas as we speak, so consider that AudienceSCAN reports 69% of adults have searched Amazon.com for products in the past 6 months. Whether these consumers are using the Amazon app or the full website, you need to be targeting them now! 24% of them enjoy exploring nature in their free time. 25% drive SUVs/Crossovers. And 27% like hiking/walking long distances for health. 35% have used smartphones or tablets to purchase products (other than apps) in the past 6 months.
AudienceSCAN data is available as part of a subscription to AdMall for Agencies. Media companies can access AudienceSCAN data through the Audience Intelligence Reports inåÊAdMall.