NRF: Father's Day shopping to be best in eight years
HTT Staff -- Home Textiles Today, 5/31/2011 12:40:55 PM
Washington D.C. - Consumer research for the National Retail Federation found shoppers plan to shell out 13% more for the holiday this year than last, and the $106.49 average spend is the highest in the survey's eight-year history.
The Consumer Intentions and Actions Father's Day survey, conducted by consumer research firm Bigresearch in conjunction with NRF, suggests Father's Day spending is starting to close the gap with Mother's Day, for when the average consumer doled out $140.73 this year.
Total Father's Day spending is expected to reach $11.1 billion.
"Shoppers seem to be more excited when it comes to gift giving, an encouraging sign for retailers - and dads - everywhere," said NRF president and ceo Matthew Shay.
Most people will buy for their father or stepfather this holiday (50.3%) but others will treat their husband (26.1%), son (8.0%), grandfather (4.7%), brother (5.8%) and friend (5.3%) to something nice.