Australians are set to spend around $800 million on Father’s Day presents this year with alcohol and food topping the gifts for dad, according to research from the Australian Retailers Association (ARA) in conjunction with Roy Morgan.
People who plan on buying a gift will spend an average of $93 with 79 per cent spending the same amount as last year with 13 per cent to spend slightly more. Most (62 per cent) already know what gift they’ll purchase while 38 per cent are yet to decide.
Alcohol and food are the most popular gifts, mentioned by 28 per cent of people who know what they’ll be purchasing, ahead of vouchers and gift cards (16 per cent), clothing, shoes and sleepwear (16 per cent), books, music, DVDs and games (10 per cent) and tools, hardware and gardening (10 per cent).
Consumers in NSW are set to spend $259 million on Father’s Day gifts, with Victorians to spend $223 million. Queenslanders are the most generous, spending an average amount of $112 on their Father’s Day gifts and $190 million in total.
ARA CEO Paul Zahra said the projections for Father’s Day are a good indication of peoples spending intentions in the lead up to Christmas.
“Despite the ongoing impacts and uncertainty of future lockdowns, Australians are set to spoil their dads this Father’s Day and it’s great to see that elevated level of consumer spending which bodes well for retailers in the lead up to Christmas,” Zahra said.
“Father’s Day is a key event on the retail calendar and while many families are likely to be separated this year, gifts are still front of mind for consumers with 92 per cent expected to spend about the same or slightly more on presents compared to last year.
“Retailers look at Father’s Day as a good barometer for consumer spending in the lead up to Christmas, which is when some discretionary retailers make up to two-thirds of their profit for the year.
“With only three weeks to go until Dad’s special day, it’s an important reminder for people looking at gifts online to shop now to allow sufficient time for delivery. The pandemic and associated restrictions continue to put pressure on logistics and supply chains, so make sure you allow plenty of time for your gifts to be delivered to avoid disappointment.”
