By Karen Axelton
The economy is rebounding and Dad is reaping the benefits, according to the National Retail Federation’s 2012 Father’s Day spending survey conducted by BIGinsight. American consumers plan to spend more than ever this Father’s Day, with the average person spending $117.14 on dad’s gifts, up 10 percent from $106.49 last year. Total spending for Father’s Day is expected to reach $12.7 billion.
What are they spending on?
The most popular gift is a special outing, such as golfing, eating out or heading to a sporting event ($2.3 billion vs. $2.0 billion in 2011). Also hot are electronic gift items ($1.7 billion vs. $1.3 billion last year) and apparel ($1.7 billion vs. $1.4 billion in 2011), gift cards ($1.7 billion), sporting goods ($641 million) and books or music ($645 million).
How are they buying?
More and more are going mobile. More than one-quarter of tablet owners (25.2 percent) say they will use their tablet to make a Father’s Day purchase. In addition, more than half (54.6 percent) of tablet owners plan to use their device to research products and compare prices, redeem coupons and look up retailers’ information such as store hours and location. Smartphones will come into play too with more than one-fourth of smartphone owners using their smartphone to research gift ideas and compare prices. One in 10 (13.7 percent) will buy a Father’s Day gift with their smartphone.
Who are they buying for?
Dad isn’t the only one getting treated this year. While most people will buy for their father or stepfather (53.9 percent vs. 50.3 percent in 2011) and their husband (29.2 percent vs. 26.1 percent last year), others on the list include sons (9.7 percent), grandfathers (5.3 percent), brothers (6.8 percent) and friends (5.7 percent).