It’s a great time to be a dad in the US – for one day in June, at least. From its beginnings in the early 1900s as an answer to the recently introduced Mother’s Day, Father’s Day has grown in popularity in the US and in recent years has seen increasing consumer spend: up some 70% in the last decade alone, according to data from the NRF and Prosper Insights & Analytics.
This year, US consumers are expected to spend some $16 billion, up from last year’s $15.3 billion – and around $6.6 billion more than they spent in 2009, according to NRF data.
Growth is being driven by consumers aged 35-44. Some of the more popular gifts include clothing, special outings, gift cards and box service subscriptions. This year, 75.9% of people plan to celebrate and are estimated to spend a record $138.97 each, up from last year’s $132.82 – and a huge increase from $91 in 2009.
Consumers aged 35-44 plan to spend the most: an average of $197.66, $100 more than this age group spent 10 years ago. Men plan to spend the most for Father’s Day at $160.74 compared with $118.29 for women.
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Source: NRF/Prosper Insights & Analytics[/caption]
Where will they look?
Consumers looking for the perfect gift are most likely to head to department stores (39% of respondents), while 34% will shop online, 24% will shop at a discount store, 23% at a specialty store, 11% at a specialty clothing store and 2% via catalog. Over half (57%) of smartphone/tablet owners plan to use their device to look for gifts, with 38% saying they will use their mobile device to research products and compare prices.
More than half of those surveyed plan to buy for their fathers or stepfathers (53%) while others will shop for their husbands (27%) or sons (9%).