Today is a day to honor dads. The National Retail Federation says that spending for Father’s Day this year is expected to be $24 billion (up from last year’s $22.4 billion). Spending is expected to average $199.38 (about $10 more than last year). While greeting cards are the most popular gift (58% of shoppers), clothing (55%), a special outing (53%), and gift cards (50%). (You can see that some will buy multiple things for dads this year.). Subscription boxes and gifts of experiences continue to rise in popularity. Online remains consumers’ primary shopping destination, with 41% shopping online for Father’s Day. This is followed by 35% shopping at department stores, discount stores (23%), specialty stores (22%), and local/small businesses (19%). Happy Father’s Day to all the dads out there! #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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