Father’s Day 2011: $11.1 Billion in Spending, Nearly a Quarter to Shop Online
While fathers won’t receive as many gifts for Father’s Day as mothers did for Mother’s Day this year, spending for Father’s Day is expected to significantly rise in 2011, according to the National Retail Federation (NRF) and BIGresearch. The annual survey reports that nearly a quarter of Father’s Day shopping will happen online this year.
NRF’s Consumer Intentions and Actions Father’s Day survey, conducted by BIGresearch, found that Americans plan on spending an average of $106.49 on dads for Father’s Day this year, up 12.9 percent from $94.32 last year. This year’s figure is also the highest in the survey’s eight-year history.
Total Father’s Day spending is expected to reach $11.1 billion this year, which is still less than the $16.3 billion in spending expected for Mother’s Day this year.
“Shoppers seem to be more excited when it comes to gift giving, an encouraging sign for retailers — and dads — everywhere,” said Matthew Shay, president and CEO of NRF.
According to the survey, $2.1 billion will be spent on activities like golfing, eating out or watching movies this year, while $1.4 billion will be spent on gift cards, $653 million will be spent on sporting goods, and $593 million will be spent on automotive accessories.
Meanwhile, $1.3 billion will be spent on electronics for dad, $1.4 billion on clothing, $1.4 billion on home improvement or gardening tools and appliances, and $598 million on books or CDs.
The survey also found that 35.2 percent of shoppers will head to department stores, while 32.2 percent will head to discount stores, 26.9 percent to specialty stores, 22.1 percent to the Internet, and 8.9 percent to specialty clothing stores.
While 50.3 percent of Father’s Day shopping will be for fathers or stepfathers, 26.1 percent will be for husbands, 8.0 percent for sons, 4.7 percent for grandfathers, 5.8 percent for brothers and 5.3 percent for friends.
According to Responsys’ Retail Email Index, Father’s Day email messaging was expected to double this week to around 25 percent of seasonal retail emails. It finished last week at around 10 percent.
Father’s Day email campaigns get a transaction rate of 0.15 percent, according to Experian CheetahMail.
Sources:</strong
http://www.nrf.com/modules.php?name=News&op=viewlive&sp_id=1129
http://www.retailemailblog.com/2011/05/week-end-trends-fathers-day-messaging.html
