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Saturday, June 12, 2010

Father's Day Special Article: Father’s Day spending is expected to reach $9.8 billion this year!

Clothes, Gadgets and Gift Cards Prevail as Top Gifts This Father’s Day

The National Retail Federation's 2010 Father's Day Consumer Intentions and Actions Survey said that the average American will spend $94.32 worth of purchase gift on dear ole dad this year or about $9.8 billion total spending. Purchases vary, but most American dads would expect to receive surprise gifts from their loved ones either one of the following: special outings, gift certificates, dad's favorite toys, and clothings. BIGresearch, which conducted the survey has released the following graph information:



Chart: Father's Day Spending by Category, 2010

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  • 39.9% or $1.9 billion will be spent this year for treating him to a special outing such as dinner or brunch.
  •  36.7% or 1.3 billion will be spent on clothes, pair of ties or a pair of shoes as well.
  • The rest of the remaining percentages will be spent on $1.2 billion worth of electronics, $749 million on greeting cards, $578 million on tools or appliances, $550 million on home improvement or gardening tools and $400 million on automotive accessories.
In these economic times, surprisingly, discount stores top the most preferred stores to purchase their gifts.  
  • 34.4% from Discount Stores
  • 34.1% from Department Stores
  • 26.4% from Gift Stores or Greetings Cards section
  • 20.5% from Online purchase
  •  7.6% from other specialty clothing stores
Sometimes I ask myself, "Why would American families spend close to $10 billion dollars annually just to give gifts on Father's Day?" It seems too extravagant to spend that much in these economic times. As a dad of 2 kids myself, I must admit that there is something with Father's Day that truly make it very special. The words of Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch may have answered that puzzling question: 
 
"Oftentimes dad is seen as the glue that holds the family together, whether for financial reasons or his love and devotion to his family. There’s no other time it makes more sense to celebrate the man who makes it all ‘better’ than Father’s Day."


To all Dads out there, Happy Father's Day!

More information from National Retail Federation website.

2 comments:

  1. counterstrike NYJune 14, 2010

    This year will be pretty much the same as last year: barbecues, videokes, and bottles of beer :)

    ReplyDelete
  2. california special4455June 16, 2010

    Father's Day top restaurants in Sacramento: Scott’s Seafood Grill & Bar, The Firehouse Restaurant, and Center Court with C-Webb Restaurant.

    Those are some of the best dine in restaurants when thinking of treating dad's this Sunday.Complete list here

    ReplyDelete

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