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WASHINGTON, June 8, 2015 – Father’s Day may 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 NRF’s 2015 Father’s Day Spending Survey conducted by Prosper Insights & Analytics, the average person will spend $115.57 on gifts, nearly even with last year’s $113.80. The survey found 75.4 percent of Americans said they plan to celebrate Father’s 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 Father’s Day,” said NRF President and CEO Matthew Shay. “Spending 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.”
When it comes to gifts for dad, four in ten (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 percent 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 average person in 2014 planned to spend $113.80 on Father's Day gifts and experiences, down slightly from the previous year; total spending for the holiday is expected to reach $12.5 billion. NRF President and CEO Matthew Shay said of the holiday, "Knowing both cost and sentiment are important to their shoppers, retailers this Father’s Day will make sure to offer promotions on a variety of gift options, including home improvement items, tools and even apparel. As more people look for ‘experience gifts’ with tickets to baseball games or a day on the golf course, retailers will also make sure to promote their gift cards for families hoping to create the perfect gift package.”
NRF’s 2013 Father’s Day spending survey conducted by Prosper Insights & Analytics found the average person planned to spend $119.84 on gifts, nearly even with the $117.14 they planned to spend in 2012; total spending for Father’s Day was expected to reach $13.3 billion. Consumers said they would splurge on clothing, electronic items, and special outings. Specifically, the survey found spending on special outings and experience type gifts would reach $2.5 billion, and would top $1.7 billion for spending on electronic gifts such as a tablet or GPS system.
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 percent 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 Father’s Day,” said Prosper’s Principal Analyst Pam Goodfellow. “Regardless, they’ll still find a way to make sure that dad has a special day, whether they’re taking advantage of sales and promotions or treating him to an experience he’ll never forget.”
Shoppers on the move will use their smartphones and tablets to research and purchase gifts they know dad will love. About one-quarter 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 percent of smartphone owners will actually purchase gifts via their smartphones and 17.5 percent 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 Father’s Day.
About the Survey
The NRF 2015 Father’s Day Spending Survey was designed to gauge consumer behavior and shopping trends related to the Father’s Day holiday. The survey was conducted for NRF by Prosper Insights & Analytics. The poll of 6,087 consumers was conducted from May 5-12, 2015. The consumer poll has a margin of error of plus or minus 1.2 percentage points.
Prosper Insights and Analytics delivers executives timely, consumer-centric insights from multiple sources. As a comprehensive resource of information, Prosper represents the voice of the consumer and provides knowledge to marketers regarding consumer views on the economy, personal finance, retail, lifestyle, media and domestic and world issues. www.ProsperDiscovery.com
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities, and the critical role that retail plays in driving innovation. nrf.com