U.S. consumers are expected to lavish about $1.8 billion in electronics and computer-related wares on their husbands and dads this Father’s Day, up 5.9 percent from last year.
According to an annual survey commissioned by the National Retail Federation (NRF) and conducted by Proper Insight & Analytics, CE ranked fourth in planned Father’s Day expenditures, behind gift cards ($2.2 billion) but ahead of greeting cards and home improvement ($900 million each).
Yet tech was only the sixth most popular category, cited by 21.2 percent of gift givers and trailing greeting cards (64.3 percent); dining out or attending a concert or sporting event (48 percent); clothing (46.1 percent); gift cards (42.6 percent); and books or CDs (23.9 percent).
Tools or appliances ranked ninth, cited by only 16.3 percent of respondents.
CE mindshare edged up slightly from last year’s poll, when tech was cited by 20 percent of respondents who planned to spend $1.7 billion on the category.
Unfortunately gift givers forgot to check first with their fathers, who put electronics at the top of their 2017 wish lists.
Total Dad’s Day spending is projected to rise 8.4 percent this year to $15.5 billion, NRF said, representing the biggest expenditure in the survey’s 15-year history.
“It’s encouraging to see that consumers are spending on special occasions such as Father’s Day,” NRF president/CEO Matthew Shay observed. “This is a positive sign of strong consumer confidence heading into the second half of the year, and a good deal for all the dads who will reap the benefits.”