Shoppers plan to spend more on Father’s Day gifts this year and do more of their shopping online.
Data from the National Retail Federation in conjunction with Prosper Insights shows that 33.7% of all shoppers are planning on buying something for dad online, this year, up from 32.4% last year. Meanwhile, shoppers are projected to spend $15.5 billion this Father’s Day, up 8.4% from $14.3 billion last year.
“This is a positive sign of strong consumer confidence heading into the second half of the year, and a good deal for all the dads who will reap the benefits,” NRF president and CEO Matthew Shay said.
Not only shoppers spending moreoverall, they’re also spending more on average per shopper. The NRF projects the average shopper in the U.S. will spend $134.75 on dad this year, up 7.0% from $125.92 last year.
The NRF and Prosper base their estimates on a survey of 7,335 U.S. consumers that was conducted from May 2-9.
Other key findings from the survey include:
- 22.1% of all respondents said they plan on spending more this year than last year.
- 18.3% of all shoppers who own a smartphone are planning on completing a Father’s Day gift purchase on their phone this year, compared to 15.7% last year.
- 19.2% of all shoppers who own a tablet will buy something for dad on it this year, up from 19.1% last year.
- Men ($149.37) are projected to spend 23.6% more on average than women ($120.89) on Father’s Day gifts.
- Shoppers are expected to spend the most on consumer electronics on average ($74.74). However if the NRF’s data is any indication, a lot of dads are going to be receiving apparel this year, with 46.1% reporting they’re planning on buying a clothing item.
Stefan Weitz, executive vice president at fulfillment, customer service, and fraud prevention services provider Radial, says the retailers that are going to succeed this Father’s Day are the ones that remove as much friction as possible from the purchasing process.
“Father’s Day, I hate to say this, isn’t as big of a day as Mother’s Day or Christmas and there’s a last minute nature of a lot of these gifts, so stores that can offer in-store pickup or same day delivery through a courier service, that’s one way I’m seeing stores differentiate,” he says. “Reducing the friction in getting from idea to delivery, that’s a good rule of thumb for any retailer but especially for (Father’s Day).”
Meanwhile, cash-back affiliate site Ebates surveyed 1,000 adults and found that 45% are planning on buying something for dad this year, while 36% are not. The most popular products on dads’ wish lists—dads accounted for roughly 17.5% of those surveyed by Ebates—included electronics (18%) and power tools (15%).Favorite