NRF Predicts Father’s Day Spending Will Rise

It’s not a bad year to be a dad, as new statistics from the National Retail Federation indicate that other family members will be spending significantly more on Father’s Day this time around.  Spending should in fact (on average) reach $94.32, up from $90.89 last year.

That represents an increase of 3.8 percent, which is pretty decent, and means Father’s Day spending on the whole should total an impressive $9.8 billion.  That’s a lot of ties, toolboxes, and shaving kits.

Or, to desist with the generalizations, the NRF actually stated, "The survey found 39.9 percent of those celebrating dad this year will treat him to a special outing such as dinner or brunch, spending $1.9 billion.  With 36.7 percent planning on spending a total of $1.3 billion on clothes, dad can expect a few more work shirts and ties to add to his collection as well."

Then, "Others will shell out $1.2 billion on electronics, $749 million on greeting cards, $578 million on tools or appliances, $550 million on home improvement or gardening tools and $400 million on automotive accessories.  Three out of 10 (31.2%) will give dad a gift card, spending an estimated $1.2 billion on those purchases."

Small business owners can perhaps do a little better over the next couple of weeks by tailoring their sites, stores, and specials accordingly.