Consumers Saving Up for Dad as Father’s Day Spending Grows

Consumers Saving Up for Dad as Father’s Day Spending Grows
- Department and Specialty Stores to Benefit Most from Holiday Rush- 

Washington DC, May 22, 2006 – Retailers everywhere are gearing up for the only holiday in which wacky ‘World’s Greatest Dad’ neckties, golf clubs and barbeque sets prove to be thoughtful gifts. According to the National Retail Federation's (NRF) 2006 Father’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch, spending on Father’s Day this year is anticipated to reach $9.0 billion*, up from last year’s $8.2 billion.  When it comes to spending on gifts for Dad, the average person is expected to spend $88.80, compared to the $122.16 spent earlier this year on Mom.

While last year consumers clung to big boxes (36.8%), this year they’re planning on hitting department (32%) and specialty stores (30.6%) instead of discounters (29.7%). Other popular locations include specialty clothing stores (6%), online (15%) and catalog orders (3%). 

“In spite of higher gas prices, lower consumer confidence, and inflation concerns, shoppers are still opening their wallets for what’s really important,” said NRF President and CEO Tracy Mullin. “Because retailers across all channels and formats have something to gain from Father’s Day spending, we expect the holiday to be quite promotional this year.”  

Most dads can expect at least a greeting card, with almost 69 percent of consumers expected to purchase at least one card for Father’s Day. Two other noticeable favorites for Dad this year are gift certificates (27%), and special meals or outings (38.1%). Other popular categories include clothing (32.0%), books or CDs (22.3%), electronics or computer-related accessories (15%), home improvement or gardening tools (10.9%), sporting goods or leisure items (9.1%), and tools or appliances (11.2%).  

Not surprisingly, women are the lead spenders for this holiday, with average per-person spending anticipated to reach $90.41, about the same as 2005 spending at $91.46. Men will shell out approximately $87.07 for dad this year, slightly higher than the $79.42 last year. 

About the Survey
The NRF 2006 Father's Day Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Father's Day holiday. The survey was conducted for NRF by BIGresearch. The poll of 7,388 consumers was conducted from May 3 - 10. 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, independent stores, chain restaurants, drug stores and grocery 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 2005 sales of $4.4 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations. www.nrf.com.

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*Estimate based on total extrapolation of U.S. adults 18 and over (222.9 million)

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