Father’s Day Spending Pales Compared To Mom’s Day
Dad’s don’t cut it. In terms of spending on their “special” day compared to Mother’s Day.
According to National Retail Federations’s 2012 Father’s Day spending survey conducted by BIGinsight, the average person will shell out $117.14 on dad’s gifts this year, up 10% from $106.49 last year and closing the gap between its biggest competitor: Mother’s Day (spent an average of $152 on the holiday). Total spending for Father’s Day is expected to reach $12.7 billion.
Why does Dad fare so modestly compared to Mom?
Buying for Mom is easy - It’s tough to go wrong with flowers, candy, perhaps some jewelry or apparel.
Buying for Dad is complicated - Dad’s toys are individualized, often requiring fit, time intensive and pricey (think of golf drivers, trolling motors, shotgun and you get the picture).
Dad’s are less obvious in their requests for gifts - ask a Dad what he wants for Father’s Day and you’ll likely hear a response like, “Oh, I don’t know”. Tough to run to the mall with that as your shopping list.
With a plethora of options to choose from, consumers plan to splurge on a variety of gifts. According to the survey, more people this year will treat dad to a special outing, such as golfing, eating out or heading to a sporting event ($2.3 billion vs. $2 billion in 2011). They will also invest in electronic gift items ($1.7 billion vs. $1.3 billion last year) and apparel ($1.7 billion vs. $1.4 billion in 2011). Others will splurge on gift cards ($1.7 billion), sporting goods ($641 million) and books or music ($645 million).
This year is the year to catch up to Mom. Think outside the box and open the wallet for Dad. He may not be so good at the former but he’s always been there for the latter.