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.