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We'll spend nearly $10 billion on gifts for dad this month
Consumers are expected to spend $9.9 billion on dads this year, with the average person spending nearly $100 on the holiday, up from $88.80 last year, according to the National Retail Federation (NRF) 2007 Father's Day Consumer Intentions and Actions Survey.
The most popular gift for dad will be a greeting card (69.9% of buyers), but other planned gifts include: Dinner out (42.7%); Apparel (37.1%); Gift certificate or gift card (29.9%); Electronics or computer related accessories (17.8%) and sporting goods or leisure items (13.9%). Only 13.6% plan to buy dad tools or appliances and dads will receive home improvement or gardening tools from only 12.4% of gift buyers.
Men will spend approximately $100.72 on dad on average, more than women's average of $96.09. NRF President and CEO, Tracy Mullin, says "Gas prices have little effect on what consumers spend for those who matter most."
Don't forget to shop at local stores and boutiques this year. Last year more than one half of shoppers stooped in department stores and discount stores to make their purchase, and only seven percent shopped at specialty stores. Fewer than 20 percent shopped online, up from previous years.
Though most shoppers will buy gifts for their father or stepfather (50.1%) this year, buying for other family members and friends is also popular:
28% will buy a gift for their husband
7.7% will spend on their son
3.8% will buy for their grandfathers
4.6% for brothers 1.1% for godfathers
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