Tough Economy Brings More Of The Same For Dad: Ties, Gift Cards And Lots Of Love, According To NRF
Washington, DC – During a thriving economy or a global recession one thing remains true for dear old dad when it comes to Father’s Day: Dinner and neckties. According to the National Retail Federation’s 2009 Father’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, Americans are expected to spend an average of $90.89 on gifts for dad, down slightly from $94.54 last year. Total spending is expected to reach $9.4 billion.*
“Along with the usual ties, gift givers will be looking into items that dad can enjoy with the whole family,” said NRF President and CEO Tracy Mullin. “Retailers will offer specials on new grill sets, sporting and gardening equipment and even electronics as the holiday rolls around.”
The survey found people will spend the most ($1.9 billion) on a special outing such as a dinner or even a sporting event, but clothing still ranks high among gift givers who are expected to shell out $1.3 billion on new socks, slacks and ties. Others will treat dad to a gift card ($1.2 billion), electronics ($1.0 billion), books or CDs ($548 million), home improvement items ($522 million) and sporting goods ($502 million).
Discount stores and department stores will be going head to head this Father’s Day as 33.9 percent of Americans plan on shopping at discounters and 33.7 percent will shop at department stores. Others will head to specialty stores like electronics and home improvement stores (26.8%), online (17.9%), at specialty clothing stores (6.1%) or through a catalog (2.8%).
When it comes to who is getting gifts this year, the majority of people said they will only buy for their father/stepfather (51.1%). Husbands (28.6%), sons (7.6%), grandfathers (4.7%) and brothers (5.1%) will also see gifts from family members.
“One large gift from the family or a few small gifts still show dad he is the greatest,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch.
About the Survey The NRF 2009 Father’s Day Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Father’s Day holiday. The survey was conducted for NRF by BIGresearch. The poll of 8,447 consumers was conducted from May 5-12, 2009. The consumer poll has a margin of error of plus or minus 1.0 percent.
BIGresearch is a consumer market intelligence firm that provides unique consumer insights that are gathered online utilizing very large sample sizes. BIGresearch’s syndicated Consumer Intentions and Actions survey monitors the pulse of more than 8,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.
The National Retail Federation is the world’s largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry’s key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees – about one in five American workers – and 2008 sales of $4.6 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations.