Spending on Dad at All-Time High of $11 Billion
Jun 16, 2011
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The National Retail Federation characterizes Father's Day spending as "on the back burner" in recent years – but not in 2011. NRF’s Consumer Intentions and Actions Father’s Day survey, conducted by BIGresearch, indicates Americans will shell out an average of $106.49 on dad, the most in the survey’s eight-year history. The average was $94.32 in 2010.
How Appliances rate on Father's Day 2011:
One survey category was "Tools or appliances." The findings:
• buying in this category: 14.2%
• the average spent by these buyers: $46.95
• net average: $6.69
• total expected to be spent: $697 million
Another survey category was "Consumer electronics or computer related accessories." The findings:
• buying in this category: 18.5%
• the average spent by these buyers: $67.20
• net average: $12.44
• total expected to be spent: $1.297 billion
Fathers Day gift categories on the survey also included clothing, CDs or books, greeting cards, automotive accessories, and others.
The survey showed the gap between Mother’s Day spending (average of $140.73) and Father’s Day spending has narrowed. Total Father’s Day spending is expected to reach $11.1 billion (an extrapolation of spending by U.S. adults eighteen years and older).
“Spending on Dad has taken a backseat for the past few years, but some kids and wives are planning to make up for lost time this Father’s Day,” said NRF President and CEO Matthew Shay. “Shoppers seem to be more excited when it comes to gift giving, an encouraging sign for retailers – and dads – everywhere.”
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