June 15, 2012
Father’s Day 2012 – Trends in Retail Spending
Business and marketing plans can be developed around the volumes of business that calendar events can bring. Certain days and periods in the calendar, such as Christmas and Easter can make or break retail and service businesses. However, many spots in the calendar create billions in economic activity for the US business sector.
Similar to Mother’s Day earlier this year, retail spending around Father’s Day has been projected to increase favorably to $12.7 Billion. According to a recent survey conducted by National Retail Federation, spending will be up by an estimated 10% this year, with estimated average spending at $117.14.
Of the projected $12.7 Billion in Father’s Day spending, here are the big-ticket items Dad’s will be receiving:
- $2.3 Billion on taking Dads to special outings
- $1.7 Billion on electronic gifts
- $1.7 Billion on clothing for Dads
- $645 Million on books and music, and
- $641 Million estimated on sporting goods for gifts
Whether you are a retail business with a store front or online, take note of the survey data on where purchases have been estimated to occur:
- 41.6% will shop for Father’s Day gifts at department stores
- 34% will hit a discount store for a cheap Father’s Day gift
- 28.6% at electronic stores, and
- 28.4% of all purchases will occur through online retail sites
Moving with the mobile trends in recent news, 26.7% of smartphone users will utilize their devices to research and purchase gifts.
As you develop your business and marketing plans for your retail or services business, keep on track with the massive potential opportunities around calendar events, such as Father’s Day.
Other relevant blogs and articles on economic indicators:
- Construction Industry – April 2012 Economic Statistics Continue to Climb
- Travel Industry – Statistics and Impacts on the US Economy
- London Olympics – Statistics and Business Opportunities [infographic]
- Economic Indicators – Residential Construction and Sales Showing Positive Signs
- Marketing Opportunities – Changing the Daily Deal Model [Infographic]
- Mother’s Day 2012 – Retail Projections Looking Marvellous
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© 2012 Strategy Plan One
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