This is good news for retailers, as the expected average spending of $106.49 on Father’s Day gifts is the highest ever, and up from last year’s figures of $94.32. For online businesses, this could be a banner year. Compete’s recent survey of 2 million shoppers shows that of the approximately 1 million planning to buy Father’s Day presents, 34 percent plan to do it online.
NRF predicts consumers will spend about $2.1 billion on entertainment and activities, like going out to restaurants and movies or hitting the golf course. Consumers will likely spend about $1.4 billion on gift cards. Another $1.3 billion is predicted for electronics, with about $1.2 billion split between sporting goods and automotive accessories. Clothing comes in at about $1.4 billion as well. The remaining sales will be mostly spent on gifts like books and CDs, home improvement, gardening tools and appliances.
So what does this mean for e-tailers and retailers? Visibility and advertising could pay off
handsomely for Father’s Day. This might be a good time to check your pay-per-click ad campaign, and schedule a few more clerks and order pickers over the next few days to handle the extra business.
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