UK shoppers set to spend ￡653m on Father’s Day this year
New retail trend can be seen in the UK ahead of?Father’s Day. Source: pexels.com
Father’s Day spend is forecast to reach ￡635 million in 2019, less than half of the amount spent on Mother’s Day but this occasion will experience higher growth than its more popular female counterpart, with spend set to rise by 1.0% (equating to ￡6.2 million), according to GlobalData.
With all retail categories associated with Father’s Day expected to grow this year, cards and gift wrap is set to be the best performing category, with anticipated spend rising 1.4% on 2018. While fewer consumers participate in this occasion compared to the female counterpart, the act of giving a card is easy for consumers to do without spending too much money given the strain on disposable incomes.
The gifting market is significantly smaller for Father’s Day, compared to Mother’s Day; despite this, the market is outperforming and forecast to grow marginally to reach ￡352.7m in 2019. With retailers, such as Card Factory, expanding gifting ranges particularly for these seasonal occasions, consumers now have greater access to low-value gifting ranges.
SEE ALSO: Americans to spend more than ever on gifts for Father’s Day?
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