Fewer consumers--70% versus 77% last year--plan to buy one or more gifts this Father's Day.
Furthermore, they will spend $115 on average, or 8% less than in 2007, according to the 2008 installment of an annual survey conducted by the Brand Keys, Inc. brand and customer loyalty consultancy.
n comparison, a pre-Mother's Day consumer survey by the National Retail Federation estimated that spending for that holiday would be down very slightly (by 51 cents, or less than 1%), to average $138.63, this year.
As is true for all occasions these days, gift cards continue to grow in popularity for Father's Day. This year, they will account for 30% of gifts, up 5% from 2007.
Other common purchases will include clothing (25%), tools (13%), electronics (10%), wine/alcohol (9%), DVDs (8%) and phones (5%).
This year, so few reported planning to buy dad a computer that this item didn't even make the list, according to BrandKeys President Robert Passikoff, who notes that the electronics purchasing numbers are down, as well.
Furthermore, more gifts will be coming from discount stores (35%, up 9%) instead of department stores (22%) and specialty outlets (20%). Online and catalog channels will account for 15% and 8% of purchases, respectively.
Fathers will also get fewer personal visits: 30% of consumers are planning these, versus 35% last year--no doubt in part because of soaring gas prices. Instead, half will call, and 20% will reach out online.
But never fear, dads: You'll still get a greeting card (90% plan to buy these, up 7% from '07). And about half of you (48%, down 4%) will even get brunch, lunch or dinner.