Sunday, June 16, 2024

Aussies to still spend big this Father’s Day

Ahead of Father’s Day this Sunday (3 September), new research suggests that Australians are set to spend $860 million on gifts.

The research from the Australian Retailers Association (ARA) in collaboration with Roy Morgan projects a modest dip in Father’s Day spending this year, down $12 million (1.3%) from 2022.

More than two-thirds of surveyed Australians plan on spending the same on Father’s Day this year compared to last year (69%), while 14% plan on spending more and 17% intend to spend less.

About a fifth of respondents’ plan on celebrating Father’s Day with a meal at a cafe or restaurant while others are planning to celebrate at home.

Across the country, the average spend per individual is projected to be $112.

Tasmania ($204) and Queensland ($168) shoppers are poised to spend the most ahead of Father’s Day per head, followed by NSW ($107).

As cost-of-living pressures mount, shoppers in South Australia ($69), Victoria ($80) and Western Australia ($82) are poised to spend less.

The “hottest” gifts this Father’s Day are tipped to be:

  • Whiskey, Gin and Wine
  • Pyjamas, socks and underwear
  • Polo shirts, casual shirts and T-shirts
  • Electric shavers and coffee makers
  • Fragrance and skincare
  • BBQ, hardware and garden tools
  • Tech accessories including fitness trackers and headphones
  • Lego and jigsaw puzzles
  • Gift cards

ARA CEO Paul Zahra says while the spending forecasts are marginally down on last year, it’s understandable given the current economic environment.

“With Australians experiencing unprecedented cost-of-living pressures and mortgage holders under extreme financial stress, the decline in Father’s Day spending is no surprise,” he says.

“Retailers will still be encouraged by the $860 million projected spend, which will provide a reprieve for some retailers from the intense pressure due to rising operating costs and an overall discretionary spending slowdown.

“Father’s Day is another gift-giving event centred around giving back – and we find that when shoppers are showing appreciation for loved ones, they are more likely to splash out.

“This is a very social family event and, food and alcohol are typically the favoured gifts on Father’s Day, with barbeques and gatherings proving a very popular way to celebrate the occasion.

“It’s an important milestone to celebrate the immense contribution of dads and the sacrifices they make, but many Australians also take the opportunity to show their appreciation for their partners, grandfathers, caregivers, and other family members.”

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