The National Retail Federation describes a kind of pent-up demand for Father's Day spending as one reason for positive signals from its Consumer Intentions and Actions Father's Day survey.
As June 19 approaches, research suggests Americans will spend an average of $106.49 on fathers across the country -- the highest figure in the survey's eight-year history, and up significantly from $94.32 last year.
“Spending on Dad has taken a backseat for the past few years, but some kids and wives are planning to make up for lost time this Father’s Day,” said NRF president and CEO Matthew Shay. “Shoppers seem to be more excited when it comes to gift-giving, an encouraging sign for retailers -- and dads --everywhere.”
Total Father's Day spending is expected to reach about $11.1 billion. Home improvement tools and appliances are expected to account for about $1.4 billion of the total.
The NRF 2011 Father’s Day Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Father’s Day holiday. The survey was conducted for NRF by BIGresearch. The poll of 8,344 consumers was conducted from May 3 to 10, 2011. The consumer poll has a margin of error of plus or minus 1.0%.