Monday, 12 June 2017 11:56

Father's Day Spending to Reach Record High

For Immediate Release: June 13, 2017
CONTACT: James Miller This email address is being protected from spambots. You need JavaScript enabled to view it., (850)701-3015

Dads to get showered with gifts in record-setting fashion this year; Meals, clothing, gift cards, electronics and personal care items top the list of popular options

TALLAHASSEE, FL – The Florida Retail Federation (FRF), the state’s premier trade association celebrating its 80th year of supporting Florida’s retail industry, says Florida families will spend more than ever on Father’s Day this year. Consumers are expected to spend an average $134.75 for the holiday, up almost $10 from last year’s $125.92. Total spending nationwide is expected to reach $15.5 billion, the highest in the survey’s 15-year history and almost a billion more than last year.

“I am very encouraged to see that Floridians and families across the country are planning to spend more than ever before to celebrate the special dads in their lives,” said FRF President/CEO R. Scott Shalley. “These results show that Americans are feeling more and more confident and optimistic in this improving economy and dads and retailers can expect to benefit this Father’s Day.”

According to FRF’s partners at the National Retail Federation’s annual survey conducted by Prosper Insight and Analytics, consumers plan to spend $3.3 billion on special outings such as dinner, brunch or other types of a “fun activity/experience” (given by 48 percent). Clothing (given by 46 percent) and gift cards (given by 43 percent) are tied at $2.2 billion each while consumer electronics (given by 21 percent) follow at $1.8 billion. As with Mother’s Day, greeting cards are the most commonly purchased gift at 64 percent but account for only $861 million of projected spending. Other popular gifts include personal care, automotive accessories, books, music, home improvement/gardening supplies and sporting goods.

The survey found 27 percent of shoppers will opt for a “gift of experience” such as tickets to a concert or a sporting event. The largest projected growth category was for “personal care” items such as cologne, razors, aftershave, etc. where spending is expected to be 20% higher over last year.

When searching for the perfect gift, 40 percent of consumers will head to department stores and 34 percent will shop online while 26 percent will shop at a discount store, 24 percent at a specialty store and 19 percent at a local small business. Among smartphone owners, 33 percent will use them to research gift ideas but only 18 percent will use them to make a purchase. Tablets are used more frequently both to research (32 percent) and buy (19 percent).

More than half of those surveyed plan to buy for their father or stepfather (54 percent), while others will shop for their husband (29 percent) or son (10 percent).

ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.

ABOUT THE NATIONAL RETAIL FEDERATION
As the world's largest retail trade association and the voice of retail worldwide, the National Retail Federation's global membership includes retailers of all sizes, formats and channels of distribution as well as chain restaurants and industry partners from the U.S. and more than 45 countries abroad. In the U.S., NRF represents the breadth and diversity of an industry with more than 1.6 million American companies that employ nearly 25 million workers and generated 2010 sales of $2.4 trillion. www.nrf.com.

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