WASHINGTON — Planned CE purchases for Father’s Day (June 21) are projected to edge up 1.3 percent this season to $1.6 billion.
According to a consumer spending survey commissioned by the National Retail Federation (NRF), the increase, while modest, will still outpace overall Father’s Day spending on all gift categories, which is virtually flat at $12.7 billion.
The soft sales are less indicative of macroeconomic pressures than dads’ traditional place in the spending hierarchy and the timing of the holiday, which follows Mother’s Day and graduation celebrations.
“After splurging on Mom and graduates this year and recognizing that Dad is a little more laid back when it comes to celebrations and gifts, consumers will keep spending similar to about what they spent last year on Father’s Day,” observed Pam Goodfellow, principal analyst for Prosper Insights & Analytics, which conducted the poll for NRF.
Neverthless, NRF president/CEO Matthew Shay suggested that Father’s Day-related spending on grilling and patio necessities, pool gear, sporting goods, apparel, and other gift and seasonal merchandise “could be the positive stepping stone retailers need heading into the second half of the year.”
CE was the third most popular Father’s Day category, following gift cards and apparel.
Tech items were on the shopping lists of about 20 percent of respondents, who planned to spend an average of $75 on their CE purchases, the survey shows.
Three-quarters of adults 18 and older said they planned to buy a Father’s Day gift, with about 73 percent looking to spend the same amount as last year.
Most of the shopping will have taken place in department stores (36.4 percent), followed by online (29.2 percent), discount stores (25.2 percent) and non-apparel specialty shops (22.6 percent), NRF reported.