According to market research firm IBISWorld, dads can look forward to even more electric razors in paternal celebration this month but afternoons out and tools as well. The company estimates that Father’s Day spending will increase 2.1% this year to $13.2 billion versus the occasion in 2012.
The gradual economic rebound has left Americans with more discretionary income, IBISWorld asserted, which will influence not only how much consumers spend on Father’s Day in the United States but also how they spend it. In fact, the market research firm suggests, traditional gifts will give way in this latest giving season to presents that reflect economic improvement, such as those associated with home improvement projects.
IBISWorld research suggests that 2013 spending on clothing and automotive products actually will decline and gift card sales will come in flat versus last year’s period. Although spending on his day will gain, dad can’t necessarily expect more than token recognition. Still some fathers will be a bit better entertained this June. The categories that will gain the most in the current Father’s Day period, the IBISWorld study suggests, will be greeting cards, up 9%, special outings, up 3.5%, electronics, up 3.1%, and home improvement, up 2.7%.
The catch-all Other category in the research also gained, up 1.9%, so that dad should look for more in the way of books, CDs, personal care products and sporting goods.