How many ties and bottles of Brut can one dad get? Well in the past few years, the economy has put a squeeze on Father’s Day spending – so maybe bigger gifts were left off the list. 2012 looks to be a rebound year for pops as Father’s Day spending is on the rise.
• Total Father’s Day spending is projected to eclipse $11.1 billion
• Just over half of consumers will purchase a gift for a dad or step dad
• Outings such as golf, the movies or a dinner out are the items most consumers will spend money on ($2.1 billion). $1.4 billion is forecast to be spent on gift cards and another $1.4 will be spent on tools & appliances. Clothing and electronics are also expected to be major spending categories
• Most of the shopping will take place at traditional stores. 35% at department stores, 32% at discount stores and 25% will shop at specialty stores. 22% of shopping will take place online
What Does This Mean To You
While Father’s day shopping is up, it is still far below money spent on Mother’s Day. On average, 32% more money was estimated to be spent on Mother’s Day than will be spent on Father’s Day. There are several ways to increase spending on Father’s Day. For brick and mortar stores, utilize your email database to send sale reminders. You can to the same with permission based SMS messages. Also leverage deals programs; these are like point of purchase impulse buys. Deals programs can work well for restaurant and sports based gifts too. If your brick & mortar location sells cards, position gift cards near them. Another tactic that seems to work well is incentivizing purchases. Have a promotion where consumers can a gift card or merchandise and receive a gift card for themselves. For more information on how your business can get great results from Father’s Day shoppers, please contact:
Source: Shop.org; BIGresearch