Father’s Day may not be as big as Mother’s Day, but it’s fast catching up as a sales event.
As a matter of fact, its total spending is expected to reach $15.3 billion this year, according to a new study from the National Retail Federation.
NRF’s survey of 7,681 consumers revealed that 77% of consumers will spend $133 each on gifts for Dad.
Mind you, not all the respondents are sons and daughters; whilst 53% of them are, 27% are wives and 10% are mothers.
That variety of customer demographics shows how wide your target market is, giving you a much better chance of making a sale.
“We are pleased to see consumer confidence continue to rise, leading to another near-record holiday spend on Father’s Day,” said NRF President and CEO Matthew Shay.
Last year’s total spending on Father’s Day hit an all-time high of $15.5 billion at an average $135 per person.
As for this year, the big spenders are millennials, specifically those in the 25-34-year-old age group, who are likely to spend an average of $188 each.
What are they looking for?
According to NRF’s survey, 43% of consumers plan to spend $2.2 billion on men’s clothing, 42% are spending $2.1 billion on gift cards, and 20% of them are laying out $1.8 billion for consumer electronics.
Other respondents have considered the following:
- Home improvement supplies (16%)
- Grooming products (19%)
- Greeting cards (63%)
- Tools or appliances (16%)
- Sporting goods or leisure items (16%)
- Car accessories (16%)
- Books or music (22%)
As to where they intend to shop, 39% of the individuals surveyed said that they’re going to a department store, while 34% prefer to do it online with their smartphones.
That said, it’s crucial to have an eCommerce site with a responsive template that automatically adjusts to fit any screen size.
What preparations have you done so far to ensure you hit your Father’s Day goals?
We’d love to hear about it from the comments section below.
As always, to your continued success,
Dave & Matt