This Father’s Day, Australians will spend $820 million on their dads, with more than eight million shoppers nationwide planning to buy gifts, spending around $101 each compared to last year’s $112 spend (down 10 per cent).
Popular gifts include books, games and music (15 per cent), clothing shoes and sleepwear (15 per cent) and alcohol and food (34 per cent).
Australian Retailers Association (ARA) CEO Paul Zahra says Father’s Day remains a popular celebration.
“We predict a dip in spending habits this year, with many households continuing to feel the cost-of-living crunch, but Father’s Day remains a seasonal highlight for Aussie retailers and this year will be no exception,” he says.
“The spending dip is concerning given we have seen significant population growth across the past year and it speaks to continued tough times for many retailers despite the seasonal pockets of positivity.”
Around 10 per cent of those planning to buy a gift have been stocking up on gifts early to take advantage of the mid-year/end of financial year sales, spending $75 million on gifts with 53 per cent stocking up on discounted items.
While retailers welcome the seasonal boost, overall Australians are spending less than last year’s figure of $850 million—a dip of $30 million or 3.5 per cent.
“This is the perfect opportunity for traders to promote Father’s Day-inspired gifts and to make it as easy as possible for shoppers to find the perfect present.
“We know that households are doing it tough right now, so retailers need to focus on delivering value to entice shoppers over the Father’s Day period,” he adds.
Father’s Day takes place on Sunday 1 September 2024.
