A report into Fathers’ Day gift giving has revealed it’s good news for food and drink retailers who are likely to see the biggest jump in sales this Sunday.
Aussie retailers can expect to see bumper sales on Father’s Day this Sunday, according to data from Vend, a leading cloud-based POS and retail management software company.
Vend sales data from over 5000 Australian retailers shows that spending on Father’s Day last year jumped by eight per cent compared to an average Sunday, and increased by six per cent the year previous.
Perhaps surprisingly, retail spend is also likely to be slightly higher than on Mother’s Day, with Vend data showing just five per cent increase in spend on Mother’s Day this year, and a less than one per cent increase last year.
According to Vend’s data, it is places to eat and drink that will see the biggest spending increase on Sunday. Sales figures show a 12 per cent increase in spend at cafes and restaurants on Father’s Day last year compared to an average Sunday, while food and drink retailers also saw a 12 per cent increase. However fashion, homewares, and beauty stores all had declines in spending on Father’s Day.
“Overall, our data shows an upward trend in the amount people are spending on Father’s Day, and we predict that this will continue which is great news for some retailers. But for stores like fashion, beauty and homewares who could see a bit of drop on Father’s Day, there are still ways they can get in on the action” says Dave Scheine, country manager Australia and New Zealand, Vend.
“Shoppers often struggle with what to buy their Dads and so default to something else such as heading out for a meal. What they really need are some new ideas. Simply packaging up a selection of products into Father’s Day gift sets, teaming up with other local stores to create special offers or products, or even offering expedited delivery for last-minute purchases, could make all the difference.”