From gift cards to bourbon, Father’s Day spending expected to increase

The 2016 average spend for Dad is moving up six percent according to the annual Brand Keys Father’s Day survey.

“That’s twice the increase we saw last year,” said Robert Passikoff, founder and president of New York-based research firm Brand Keys, Inc. “And equal to the increase we saw for Mother’s Day 2016, which is good news. Steady economic conditions and consumer confidence are fueling holiday sales, and retail can use it.”

What consumers are buying

Retailers are looking at an average spend of $157.00 and celebrants indicated they were considering buying dads gifts in these categories:

• gift cards (40 percent);
• clothing (35 percent);
• tools (20 percent);
• electronics (18 percent);
• wine and spirits (15 percent);
• home improvement (15 percent);
• sporting goods (14 percent);
• automotive (10 percent);
• spa services (10 percent);
• smartphones (9 percent);
• books/eBooks (5 percent); and
• DVDs/CDs (2 percent).

 

The biggest increases in gift choice are in clothing. “You can always count on the perennial tie,” said Passikoff. Wine and spirits, with whiskeys, bourbons and scotches each were up 5 percent from last year. All other categories were relatively stable for 2016, with very slight decreases for tools (-5 percent) and smartphones (-3 percent), both of which were up last year.

So where are consumers shopping? The general retail trend is continuing to shift to online shopping, though this year specialty outlets are up again by 2 percent, while department stores are down.

Methodology

As part of the annual Brand Keys Customer Loyalty Engagement Index, the firm polled a national sample of 5,800 men and women, 18-65 years of age, asking if – and how – consumers plan to celebrate Father’s Day.

 

 

from Quirks Marketing Research Review Blog http://ift.tt/25SsUTF