Seasonal programs like Father’s day drive big profits for retailers and restaurants. Father’s Day spending has reached 20 billion!
“Fathers, husbands and sons can expect to feel the love this Father’s Day,” NRF President and CEO Matthew Shay said. “Over the past decade, spending on Father’s Day gifts has increased significantly. Retailers are ready with gifts that will have no problem impressing dad.”
NRF President and CEO Matthew Shay
“Special outing” gifts expected to be the front-runner with $3.3 billion followed closely by clothing (2.5 billion) and gift cards ($2.3 billion).
“Special outing gifts have steadily grown in popularity for Father’s Day since their lowest point in 2009. These consumers, especially those between 18 and 24 years old, want to offer something to their dad’s that is unique, thoughtful and allows for quality time on dad’s special day.” – Prosper Insights Executive Vice President of Strategy Phil Rist
34% of consumers plan to shop online, 24% will head to a discount store. With 39% planning to shop at department stores and 23% at specialty stores.
72 million cards are given out on Father’s day.
With $15.1 billion up for grabs, are your stores ready? Are Father’s Day marketing and merchandising initiatives executed in full, across all your locations?
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