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Thursday, 02 June 2022 09:32

Dad Jokes Aside, Consumers Plan to Spend Big this Father's Day

FOR IMMEDIATE RELEASE
June 2, 2022
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Retail Sales This Year Expected to Match 2021 Forecast Despite Growing Inflation Concerns

Tallahassee, FL – This Father's Day, consumers are expected to spend an average of $171.79 to show dad some much-needed love, according to the latest survey released by the National Retail Federation (NRF).

"Shoppers are focused on finding new and creative ways to honor dad this Father's Day," says Scott Shalley, president and CEO of the Florida Retail Federation. "Remember, Florida retailers are here to provide the perfect gift for the father figures in your lives. When you shop local and 'Find it in Florida', you are helping support your community and local economy."

Three in four (76%) of American adults plan to celebrate the holiday, which falls on Sunday, June 19, this year. Nearly half of shoppers (44%) are prioritizing unique or different gifts this Father's Day, and 37% are looking to create a special memory with their gift.

One-quarter of shoppers plan to give dad a "gift of experience," while 37% are interested in gifting a subscription box this Father's Day.

Shoppers will spend, on average, $32.29 per person to take dad on a special outing to his favorite restaurant. Additional top spending gift categories for Father's Day include: 

  • Clothing - $26.62
  • Gift Cards - $23.02
  • Electronics - $19.32
  • Personal Care - $11.93
  • Home improvement/gardening - $11.60
  • Tools or appliances - $11.03
  • Sporting or leisure items - $9.86
  • Automotive accessories - $8.59
  • Greeting cards - $7.38
  • Books or CDs - $6.05
  • Other - $4.09

Forty percent of Father's Day gifts are expected to be purchased online while 34% of consumers plan to shop at department stores. Tied at 22%, the remaining shoppers will look towards specialty stores or discount stores to find that special item for dad.

This Father's Day, remember to "Find It In Florida" and support local retailers while shopping for dad. Your support for local retail helps boost the local economy and invests in community businesses. Learn more about the "Find It In Florida" program here

For more information on the forecast released by the National Retail Federation, visit: https://nrf.com/media-center/press-releases/consumers-spend-20-billion-fathers-day-gifts

ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year.

ABOUT THE NATIONAL RETAIL FEDERATION
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.  

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Read 643 times Last modified on Thursday, 02 June 2022 09:45