This Father’s Day, consumers are expected to spend $12.7 billion with $1.7 billion of that spent on apparel. The NRF’s 2015 Father’s Day Spending Survey, conducted by Proper Insights and Analytics, showed that four in ten shoppers will purchase apparel items for fathers.
The average person will spend $115.57 on gifts, nearly even with last year’s $113.80. Outside of apparel, other large categories for gifts will be gadgets (19.7%) and experience presents (43.3%), such as baseball tickets or a special meal.
In terms of where to buy, the largest percentage of consumers will shop at department stores (36.4%), while others will shop online (29.2%) and at discount stores (25.2%); 16.9% will shop local at a small business.
Mobile shopping will also play a large role in the holiday, with one-quarter of smart phone owners (24.1%) using their devices to research gifts and compare prices, and 13.1% of smartphone owners actually purchasing gifts via their smartphones.
NRF President and CEO Matthew Shay said, “After a less than stellar first half of the year, retailers are ready to welcome the warm weather and the millions of shoppers that come along with it and kick off the summer spending season just in time for Father’s Day.”