If there’s a holiday coming up, you can bet that the National Retail Federation (NRF) has done a survey to see what consumers plan to spend. Pop’s Day is June 15, and the NRF Consumer Intentions and Action Survey reveals that consumers will spend less on Dad this year than last.
The reason, NRF speculates: High gas and grocery prices. But still, Dad won’t make out too badly. Consumers plan to spend an average of $94.54 this year, down from last year’s $98.34. Total spending will hit $9.6 billion compared with $9.9 billion last year.
The survey found that 41.4 percent of consumers will treat Dad to a special outing. Another 36.5 percent will give clothing; 22.6 percent will purchase books and/or CDs; 32.7 percent will let Dad choose his own present thanks to gift certificates and gift cards; 13.3 percent will give sporting goods; and 18.5 percent will give consumer electronics or computer-related accessories.
Lots of consumers, 68.4 percent, will give pop a greeting card.
Department stores will be the shopping destination of choice for 32.5 percent of shoppers while 31 percent will shop at a discounter; 28.1 percent at a specialty store; 18 percent with an online retailer; and 7.9 percent at a specialty clothing store.
Nearly half of all consumers — 48.2 percent — will buy a gift for a father or stepfather this year. More than 27 percent will spend on their husband; 7.6 percent on their son; 4.5 percent on their grandfather; 5 percent on their brother; 4.4 percent on a friend; and 1.2 percent on a godfather.
Even though spending will be down a bit, the total of $9.6 billion is a big number that should have retailers smiling and moving gift tables to the front of the store.