Jun 14, 2009

Father’s Day is big business regardless of downturnBy Andrea ChangChicagoTribune.com

Despite the recession, dads can still expect dinner and neckties for Father’s Day.

According to a National Retail Federation survey, Americans are expected to spend an average of $90.89 on gifts for dad this year, down slightly from $94.54 in 2008. Total spending for the occasion, which falls on June 21 this year, is expected to reach $9.4 billion.

The survey found the most ($1.9 billion) will be spent on special outings such as dinner or a sporting event, but clothing still ranks high among gift-givers, at $1.3 billion. Others will treat dad to a gift card ($1.2 billion), electronics ($1 billion), books or CDs ($548 million), home-improvement items ($522 million) and sporting goods ($502 million).

“Along with the usual ties, gift-givers will be looking into items that dad can enjoy with the whole family,” said Tracy Mullin, president of the National Retail Federation. “Retailers will offer specials on new grill sets, sporting and gardening equipment and even electronics as the holiday rolls around.”

Discount stores and department stores will be popular shopping destinations this Father’s Day, as 33.9 percent of Americans plan to shop at discounters, and 33.7 percent at department stores. Others will head to electronics and home-improvement stores (26.8 percent), online (17.9 percent), specialty clothing stores (6.1 percent) or buy from a catalog (2.8 percent).

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