Florida Retailers: Father’s Day Spending To Reach Record High

June 18, 2016

The Florida Retail Federation (FRF), the state’s premier trade association representing retailers for over 75 years, says Florida families will spend more than ever on Father’s Day this year. Consumers are expected to spend an average $125.92 for the holiday, up from last year’s $115.57. Total spending nationwide is expected to reach $14.3 billion, the highest in the survey’s 13-year history but still below this year’s Mother’s Day total of $21.4 billion.

“Father’s Day serves as an informal kickoff to the summer shopping season, and we expect it to be a record setting start statewide,” said FRF President/CEO Randy Miller. “More Florida families are feeling better about their economic situation, which bodes well for dads, in terms of receiving gifts, and for retailers who can expect increased sales.”

According to FRF’s partners at the National Retail Federation’s annual survey conducted by Prosper Insight and Analytics, consumers plan to spend $3.1 billion on special outings such as dinner, brunch or other types of a “fun activity/experience” (given by 47 percent). Clothing (given by 43 percent) and gift cards (given by 41 percent) are tied at under $2 billion each while consumer electronics (given by 20 percent) follow at $1.7 billion. As with Mother’s Day, greeting cards are the most commonly purchased gift at 65 percent but account for only $833 million of projected spending. Other popular gifts include personal care, automotive accessories, books, music, home improvement/gardening supplies and sporting goods.

The survey found 22 percent of shoppers will opt for a “gift of experience” such as tickets to a concert or a sporting event. Two in five Millennials are planning to give an experience, significantly higher than older generations.

When searching for the perfect gift, 38 percent of consumers will head to department stores and 32 percent will shop online while 27 percent will shop at a discount store, 24 percent at a specialty store and 17 percent at a local small business. Among smartphone owners, 30 percent will use them to research gift ideas but only 16 percent will use them to make a purchase. Tablets are used more frequently both to research (32 percent) and buy (19 percent).

More than half of those surveyed plan to buy for their father or stepfather (53 percent), while others will shop for their husband (28 percent) or son (9 percent).

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Written by William Reynolds · Filed Under News