Florida - The Florida Retail Federation (FRF) is expecting record Floridian spending this Father's Day.
"This year, the Florida Retail Federation expects it to be a very bright holiday for fathers and for retailers," says James Miller, the Communications Director for the FRF.
According to the FRF, a Floridian trade association in its 80th year of helping the retail industry in the State, $15.5 billion will be spent on the holiday throughout the country, over a billion more than 2016 and the highest ever recorded by the FRF. It is expected that people will spend $134.75 on average for the holiday this year, a significant $10 increase from 2016's $125.92.
Miller believes the increases projected for this year are "a good sign that the economy is doing well. People are feeling good about their own personal finances and we expect it to be a very prosperous year for retailers."
The National Retail Federation, an FRF partner, found in their annual Prosper Insight and Analytics survey that:
$3.3 billion will be spent on:
$2.2 billion (each) will be spent on:
$1.8 billion will be spent on:
$861 million will be spent on:
Dads will also be receiving personal care items, automotive accessories, books, music, home improvement and gardening supplies as well as sporting goods. 27% of people will buy them tickets to a concert or sporting event.
Miller says that personal care items like cologne, razors and aftershave will be popular this year. "And spending on those categories is expected to be 20% higher than last year, so it looks like a lot of fathers will be well groomed this year."
54% of those surveyed will buy gifts for their father or stepfather, 29% will buy gifts for their husband and 10% will buy gifts for their son.
The survey also showed that shoppers will buy gifts:
33% of smartphone owners will research on their phones and 18% will buy gifts from them. 32% of tablet users will research on their tablets and 19% will buy from them.
“I am very encouraged to see that Floridians and families across the country are planning to spend more than ever before to celebrate their dads,” says R. Scott Shalley, FRF President/CEO. “These results show that Americans are feeling more and more confident and optimistic in this improving economy, and fathers and retailers can expect to benefit this Father’s Day.”
Photo courtesy of wavebreakmedia and Shutterstock.com.
Copyright Southern Stone Communications 2017.
