Father’s Day Spending to Grow by 4.5%

NRF-Fathers-Day-Spending-Forecast-June2013Total US spending related to Father’s Day (Sunday, June 16, 2013) should reach almost $13.3 billion this year, per results from a National Retail Federation (NRF) and BIGinsight survey. That would mark a 4.5% rise from a projected $12.7 billion last year. While the percentage of adults planning to celebrate Father’s Day is relatively flat, at 77.7%, the average celebrant will increase spending by a couple of dollars, to roughly $120. By comparison, Mother’s Day spending was expected to reach about $20 billion this year, with the average celebrant shelling out $169.

For those keeping track, at the beginning of the year, the NRF predicted that retail sales would climb by a modest 3.4% this year. Since then, for notable holidays and special events, the NRF’s survey-based forecasts have projected:

Returning to the Father’s Day survey, the results indicate that total spending on special outings, such as dinner or brunch, will reach $2.52 billion, rising from roughly $2.36 billion last year. Consumers will also spend more this year on gifts such as clothing ($1.84 billion, up from $1.71 billion), and gift certificates/gift cards ($1.8 billion, up from $1.7 billion), but slightly less on books and CDs and about the same on greeting cards.

About 3 in 10 respondents said they will shop online this year, up slightly from 28.4% in 2012. This means that shopping online will be slightly more common that shopping at a specialty store, such as an electronics store (27.3%). The most popular shopping destinations this year remain department stores (40.6%) and discount stores (31.5%), though both are down slightly from last year.

Among the 58% of the sample that owns a smartphone, 42.6% plan to use their device to research or make a purchase. Most of them will use their device for research, with only 12% saying they’ll make a purchase for Father’s Day. Tablet owners, who make up 35% of the sample, will be more likely to use their devices for product purchases, with 20.3% planning to do so.

Other Findings:

  • 70.8% of respondents said they’ll spend the same as last year, with slightly more saying they’ll increase rather than decrease spending (16.5% vs. 12.7%).
  • The majority of consumers will buy for their father or stepfather this holiday (53%) but others will treat their husband (29.1%), son (9.7%), brother (6.4%), friend (5.4%), and grandfather (4.9%).

About the Data: The results are based on a survey of 5,706 adults conducted from May 1-8, 2013.