May 29, 2008

Survey says: Gas and groceries more important than DadBy Boston.BizJournals.com

Father’s Day will take a back seat this year as sons, daughters, wives and others grapple with high gas and grocery prices, according to a new survey.

Consumers plan to spend on average $94.54 on Father’s Day gifts this year, a nearly 4 percent dip in spending compared to last year’s $98.34, according to the National Retail Federation’s 2008 Father’s Day Consumer Intentions and Actions Survey.

“Unfortunately, consumers are torn between their love for dad and their need for gas this year,” said NRF President and CEO Tracy Mullin in a statement.

The majority of spenders (68.4 percent) will stick with a greeting card, spending an average of $7.49. Some (41.4 percent) will take Dad out and will spend an average of $20.19. At the top of the gift list is clothing (36.5 percent), books and/or CDs (22.6 percent), gift certificates and gift cards (32.7 percent), sporting goods (13.3 percent) and consumer electronics or computer related accessories (18.5 percent).

The most popular shopping spot will be department stores, followed by discounters, specialty stores, online retailers and specialty clothing stores.

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