In just a few days, most Americans will make a special effort to honor their fathers, usually with some sort of gift or dinner. There has been some data released by institutions like the Census Bureau and the National Retail Foundation that’s interesting to note this Father’s Day weekend. Here 11 interesting stats about dear, old dads on Father’s Day of us to business owners and consumers.
- According to the most recent data available on the subject from the U.S. Census, about one in every four Americans is a dad. In 2008, when the population was 304 million, and estimated 70.1 million Americans were dads.
- The America’s Families and Living Arrangements study reported there are about 24.7 million fathers who are part of married-couple families with children younger than 18. Of these, about one in five (21%) have three or more children younger than 18 in the household.
- The same study found there are 1.9 million single dads in the country. They account for 16 percent of the single parent population. And while the majority are divorced or separated, one in three single dads were never married.
- According to a recent survey from the National Retail Foundation, Americans will spend $12.7B on Father’s Day gifts in 2015.
- Consumers are planning to spend more on dad this year than last. According to the survey, the average American will spend $115.57 on Father’s Day gifts in 2015, up from $113.80 in 2014.
- The survey also found that people plan to shop for gifts in diverse ways. One in three (36.4%) will shop for Father’s Day gifts at department stores in 2015, 29.2 percent will shop online, one in four (25.2%) in discounts stores, and 16.9 percent said they would use local small businesses.
- The people planning to shop online for Father’s Day gifts in 2015 will spend an average of $157 each.
- Many consumers will turn to mobile devices. The NRF researchers noted that 40 percent of Americans planning to shop online for Father’s Day gifts in 2015 will use smartphones to research products and compare prices.
- According to NRF research cited by Fundivo, the most popular gifts are greeting cards, a special outing, clothings, and gift cards.
- When ranked by how much will be spent on each category of gift, things switch up. According to the NRF survey, Americans will spend $2.6 billion on event tickets and meals, $1.8 billion for gift cards, $1.7 billion on apparel, and $1.6 billion for consumer electronics.
- The study also noted that while the majority (52%) of consumers say they plan to buy gifts for their father or stepfather, more than 1 in 4 said they will buy presents for their husband, 9 percent expect to shop for their so, but only 4 percent for their grandfather.
Father’s Day may not be as big of an event as Mother’s Day, but it’s something that business owners should pay attention to. From small business owners to online retailers, every store should be offering something to appeal to Father’s Day shoppers.
For more news about consumer attitudes, read this article on the Hispanic Consumer Sentiment Index.