Multiple notable occasions are upcoming, and the retail industry is responding to them with an eye toward celebration.
The National Retail Federation expects Father’s Day spending this year to total $20 billion, almost on par with last year’s record-setting figure of $20.1 billion, according to the annual consumer survey it conducts with Prosper Insights & Analytics.
In the study, 76% of adults across the United States plan to celebrate Father’s Day. Consumers intend to spend an average of $171.79 to honor fathers and other important men in their lives, with the spend just about reaching the $174.10 study participants intended to lay out last year. The most important factors influencing Father’s Day purchases include finding a gift that is unique or different, key for 44%, and finding a gift that creates a special memory, critical for 37%.
The study determined that consumers want retailers to help them with Father’s Day purchasing, as 30% reported that they look to store runners for gift inspiration.
A quarter of consumers plan to give gifts of experience this year, such as tickets to a concert or sporting events. Another 37% expressed interest in extending the longevity of the celebration by gifting a subscription box service. Consumers plan to spend the most, at $32.29, on a special outing such as a Father’s Day dinner or brunch, a bit more than last year’s $29.3. Shoppers are planning to spend almost as much this year as last year in the popular Fathers Day gift categories of clothing, at $26.62, and gift cards, at $23.02.
Four in 10 consumers plan to shop for Father’s Day gifts online, while 34% anticipate visiting department stores, and 22% expect to check out specialty stores including greeting card/gift stores and electronics stores and discount stores.
Some 64% of consumers reported finding higher prices when shopping for Father’s Day gifts.
“Despite growing concerns about inflation, consumers plan to spend approximately the same amount as last year in celebration of Father’s Day,” said NRF president and CEO Matthew Shay. “Spending patterns also reflect the sentimental nature of the holiday as consumers are prioritizing unique and meaningful gifts.”
Other occasions are moving through the calendar in addition to Father’s Day.
Among retailers that are supporting past and present armed services members, Walgreens is honoring Memorial Day with discounts for active-duty military and veterans. From May 27 through May 30, customers with a myWalgreens membership and valid military ID or proof of service will receive 20% off regularly priced products at any Walgreens or Duane Reade drugstore nationwide.
In line with a commitment to diversity, equity and inclusivity at retail, JCPenney announced it is setting up a multipoint celebration of Juneteenth, which shares a date with Father’s Day this year, honoring Dr. Opal Lee, known as the Grandmother of Juneteenth. Events include Opal’s Walk for Freedom on June 18 in Fort Worth, Texas, and the launch of a new Juneteenth collection from Hope & Wonder, a private label brand designed to engage the community in a positive way and bring key cultural and seasonal moments to life.
Staples through June 7 is running the Find Your WFH Style Sweepstakes, an opportunity for consumers to enter to win one of three home offices curated by Staples’ Work From Home Style Squad in celebration of National Work from Home Day, which this year falls on June 24.
The looks are:
- Earthy Office Nook. Designed by Matt & Beau, founders of Probably This, a DIY, home and lifestyle blog, the ambiance is inspired by nature and organic elements offering natural textures, plenty of light and modern accessories.
- Sunny WFH Hideaway. Designed by Sharelle Rosado, founder and CEO of Selling Tampa’s Allure Realty, the style builds off the colors of a Tampa sunset and incorporates clean, white lines with pops of orange and yellow.
- Modern Vintage Workspace. Designed by Chelsea Henriquez, a New York City-based content creator and owner of Shop As of Late, the look derives from thrift treasures with a modern twist on vintage florals and classic gold.
