Sorry, Dad — don’t expect to be showered with more gifts than usual this year.
According to the annual Father’s Day survey from the National Retail Federation, total spending is expected to reach $12.7 billion this year, with the average person spending $115.57 on gifts, just marginally more than the $113.80 spent last year. Overall, 75.4 percent of Americans will celebrate the event, the survey said.
“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 chief executive officer 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.”
Four out of 10 people expect to buy apparel for the men in their lives, which translates into $1.7 billion in business. But 43.3 percent are planning to buy “experience gifts,” such as tickets to a ball game or a special meal, according to the survey. Spending on these types of gifts are expected to hit $2.6 billion.
The survey also found that one in five (19.7 percent) will buy their dad a gadget such as a tablet or smartphone, for a total of $1.6 billion. Additionally, four in 10 (39 percent) are planning to let dad choose his own gift and will purchase a gift card, spending a total of $1.8 billion.
Consumers 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).
Over one-third, or 36.4 percent, will shop at department stores for their gifts, while 29.2 percent will shop online, 25.2 percent at discount stores and 16.9 percent at a small, local 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 Pam Goodfellow, principal analyst for Prosper Insights & Analytics, which conducted the survey for NRF. “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.”
About one-quarter, or 24.1 percent, of smartphone owners will use their devices to research gifts and compare prices, and 29.1 percent of tablet users will do the same. Over 13 percent of smartphone owners will actually purchase gifts using their photos, while 17.5 percent of tablet owners will make a purchase with their devices.