Florida Retail Federation Press Release
Near record-high spending expected this Father's Day
More than $133 per person expected to be spent on fathers this year with special events, clothing, gift cards, and electronics leading the way of most popular options.
TALLAHASSEE, FL – The Florida Retail Federation (FRF), the state’s premier trade association celebrating more than 80 years of supporting Florida’s retail industry, says Florida families will spend an average of $133 per person for Father’s Day and a total nationally of $15.3 billion. Both of these numbers are the second highest in survey history with special events, clothing, gift cards and electronics leading the way.
“Consumer confidence remains high, unemployment is at a 10-year low, and our state’s economy remains strong which means Floridians have more money in their pocket to spend on fathers this year,” said FRF President/CEO R. Scott Shalley. “The retail industry remains robust, and I’m excited about what these spending numbers mean for our member retailers this year.”
According to FRF’s partners at the National Retail Federation’s annual survey conducted by Prosper Insight and Analytics, 77 percent of Americans will celebrate Father’s Day and spend an average of $133 per person, treating dad to special outings, clothing, gift cards, electronics and more.
The expected spending would be second only to last year’s $15.5 billion, the highest in the 15-year history of the survey at an average $135 per person. Individuals between 25 and 34 years old will be the biggest spenders this year at an average $188 per person.
Consumers plan to spend $2.2 billion on clothing (purchased by 43 percent of shoppers), $2.1 billion on gift cards (42 percent) and $1.8 billion on consumer electronics (20 percent). In addition, $878 million will be spent on home improvement supplies (16 percent), $862 million on personal care products (19 percent), $844 million on greeting cards (63 percent) and $830 million on tools or appliances (16 percent). Another $798 million will be spent on sporting goods or leisure items (16 percent), $686 million on automotive accessories (16 percent) and $628 million on books or music (22 percent).
The survey found 47 percent of consumers plan to give a “special outing” gift, such as a concert, sporting event or dinner. This category represents the largest share of spending at $3.2 billion.
To find that special gift, 39 percent of those celebrating the holiday will head to a department store, 34 percent will shop online, 25 percent will visit a discount store and 24 percent will visit a specialty store. Nearly half of smartphone users plan to use their device to help making purchasing decisions while shopping this Father’s Day.
Over half of those surveyed plan to buy for their fathers or stepfathers (53 percent) followed by husbands (27 percent) and sons (10 percent).
ABOUT THE FLORIDA RETAIL FEDERATION
The Florida Retail Federation is the statewide trade association representing retailers -- the businesses that sell directly to consumers. Florida retailers provide one out of every five jobs in the state, pay more than $49 billion in wages annually, and collect and remit more than $20 billion in sales taxes for Florida’s government each year. For more information, visit the FRF website, and follow FRF on Facebook and Twitter.
ABOUT THE NATIONAL RETAIL FEDERATION
The National Retail Federation is the world’s largest retail trade association. Based in Washington, D.C., NRF represents discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries. Retail is the nation’s largest-private sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF.com.