Dads Are Recognized With Almost Ten Billion Dollars of Gifts This Year
According to NRF's 2007 Father's Day Consumer Intentions and Actions Survey, consumers are expected to spend $9.9 billion on dads this year, with the average person spending $98.34 on the holiday, up from $88.80 last year. Men will still be spending more than women this year with men planning to spend $100.72 on average versus women's average of $96.09.The most popular gift for dad will be a greeting card (69.9% of buyers), but other planned gifts include:
- Dinner out (42.7%)
- Apparel (37.1%)
- Gift certificate or gift card (29.9%)
- Electronics or computer related accessories (17.8%)
- Sporting goods or leisure items (13.9%)
- Tools or appliances (13.6%)
- Home improvement or gardening tools (12.4%)
NRF President and CEO, Tracy Mullin, says "Gas prices have little effect on what consumers spend for those who matter most."
This year, consumers are planning to shop for Father's Day gifts at:
- Department store (34.2%)
- Discount stores (28.7%)
- Electronics or greeting card stores (29.6%)
- Specialty clothing stores (7.3%)
- Online shopping (18.7%)
Though most shoppers will buy gifts for their father or stepfather (50.1%) this year, buying for other family members and friends is also popular:
- 28% will buy a gift for their husband and
- 7.7% will spend on their son
- 3.8% will buy for their grandfathers
- 4.6% for brothers
- 1.1% for godfathers
