Though slightly more consumers will be celebrating Father's Day this year, they will be spending less on the holiday. The NRF 2004 Father's Day Consumer Intentions and Actions Survey, conducted by BIGresearch for NRF, found that 72.1 percent of Americans plan to celebrate Father's Day. Those who will celebrate plan to spend an average of $86.19, down from a high of $99.65 last year. Father's Day spending this year is expected to reach $8.04 billion. Comparatively, 81.8 percent of consumers celebrated Mother's Day in May and spent $10.43 billion on the holiday.
Most dads can at least bet on receiving a greeting card, with nearly three in four consumers (74.3%) planning to purchase at least one card. Other popular gifts this year will include clothing (35.6%), gift cards or gift certificates (27.6%), and books or CDs (23.8%). Nearly half of consumers (41.6%) are planning a special outing for dad on Father's Day.
"Even though consumers are spending a little less, Dad won't be forgotten on Father's Day," said NRF President and CEO Tracy Mullin. "Consumers still appear a little cautious when it comes to discretionary spending. Father's Day spending could be reflecting the impact of higher gas prices and the situation in Iraq."
A large part of the decrease in Father's Day spending can be attributed to spending by women. Last year, women spent an average of $101.38 on Father's Day; this year, they plan to spend $89.77. Men's spending for Father's Day will increase this year, from $70.89 last year to $82.19.
Though more consumers plan to shop at department stores for Father's Day gifts this year (34.2%, up from 30.1%), many Father's Day shoppers (36.4%) will still head to discounters.
About the Survey
The NRF 2004 Father's Day Consumer Intentions and Actions Survey was designed to gauge consumer behaviour and shopping trends related to the Father's Day holiday. The survey was conducted for NRF by BIGresearch. The poll of 6,899 consumers was conducted from May 5-13. The consumer poll has a margin of error of plus or minus 1.0 percent.
BIGresearch is a consumer market intelligence firm that provides unique consumer insights that are gathered online utilizing very large sample sizes. BIGresearch's syndicated Consumer Intentions and Actions survey monitors the pulse of more than 7,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.
The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet and independent stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.4 million U.S. retail establishments, more than 23 million employees - about one in five American workers - and 2003 sales of $3.8 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations.
