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Father’s Day CE Spending To Hit $1.2B: NRF

6/07/2010 12:01:00 AM Eastern

WASHINGTON — Dads will be lavished
with $1.2 billion in consumer electronics
this Father’s Day, an increase of
nearly 13 percent over last year.

According to a survey of consumers
by the National Retail Federation
(NRF) and BIGresearch, shoppers
will spend an average of $63.42 on CE
gifts this holiday, about the same as
last year, although a greater number
are choosing electronics over other
categories (17.4 vs. 15.6 in 2009).

Indeed, CE trailed only meals out
($1.9 billion) and clothes ($1.3 billion)
as the gift of choice for dads and
granddads, and tied gift certificates
for third place.

“A slight uptick in Father’s Day
spending is another sign people
are starting to open up their wallets
again,” observed NRF president/CEO
Matt Shay. “Whether it’s a large family
get-together or surprising dad
with the new gadget he’s had his eye
on, there are many ways people will
choose to celebrate this year.”

The poll of 8,431 consumers was
conducted May 4-12, and has a margin
of error of plus or minus 1 percent.

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