Thanks to improving consumer spending trends, retailers can expect a modest bump in sales for Father’s Day.
Projections call for flat to slightly higher sales this year, with consumers shelling out more than $13 billion for their fathers on June 16.
The National Retail Federation said that although 77 percent of Americans are expected to celebrate Father’s Day this year, 70.8 percent said they will spend the same as last year. In 2012, the NRF projected that shoppers would each spend $117.14 on gifts for Dad, or $12.7 billion. This year’s number is expected to inch up to $13.3 billion.
In an annual survey on expected spending for Father’s Day conducted by the organization, 43.3 percent of respondents said they were planning to buy apparel. NRF is projecting apparel sales for the holiday to hit $1.8 billion. Special outings, however, are seen as garnering more attention from consumers, 45.9 percent of whom said they will take Dad out for dinner, lunch or another event. That category is expected to account for $2.5 billion in spending. Gift cards continue to be popular, with 39.8 percent of consumers expected to purchase them for their fathers, accounting for $1.8 billion in spending. Consumer electronics are also expected to be popular, with 21.4 percent of consumers seen spending $1.8 billion on that category of business.
Department stores remain the retailer of choice for survey respondents, with 40.6 percent saying they expect to shop there for their fathers. Discount stores are expected to account for 31.5 percent of spending, and specialty stores 27.3 percent. Online retailers continue to gain momentum, with 29.8 percent of consumers saying they will shop electronically this year. That’s up from 28.4 percent last year and 17.9 percent in 2009.
IBISWorld, a market research firm based in Los Angeles, is projecting U.S. consumers will spend $13.2 billion on the holiday this year, up 2.1 percent from last year. That figure comes on top of a 3.4 percent gain in 2012.
Caitlin Newsom, industry analyst for IBIS, said, “Overall consumer sentiment is the highest it’s been in five years, and disposable income is expected to be at its highest since 2009.” That, coupled with the lowest unemployment rate since 2009, means “a lot of people will be buying gifts for Dad.”
Apparel sales, however, are seen dropping marginally this year, according to IBIS. The firm is expecting a 0.3 percent dip to $1.74 billion from $1.73 billion last year. In 2012, apparel sales grew 3.3 percent. “People are moving away from more practical gifts to higher-budget items like electronics,” Newsom said.
This year, categories with the largest expected increase are electronics, with a 3.1 percent hike, and special outings, which are expected to jump 3.5 percent. Home improvement spending is also seen rising 2.7 percent.
“Special outings, like dining out and watching sporting events, are expected to account for the largest share of Father’s Day spending this year, contributing 18.8 percent of total holiday sales, up 3.5 percent from 2012,” IBIS said. “Specifically, spending at restaurants is expected to increase in revenue on Father’s Day as families go out to eat to celebrate Dad.”
Gift cards are also seen continuing to be popular, accounting for 13.1 percent of Father’s Day spending again this year, the same as in 2012, according to IBIS.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)