Father’s Day is just over a week away and word on the street is the spending is up again this year. The National Retail Foundation has been conducting its annual Father’s Day survey since 2003 to see how Americans will celebrate dad on his special day. As consumer confidence continues to rise, 77% of Americans will celebrate Father’s Day and spend an average of $133 per person, treating dad to special outings, clothing, gift cards, electronics and more. The expected spending would be second only to last year’s $15.5 billion, the highest in the 15-year history of the survey at an average $135 per person. Individuals between 25 and 34 years old will be the biggest spenders this year at an average $188 per person.
According to the survey, consumers plan to spend $2.2 billion on clothing (purchased by 43 percent of shoppers), $2.1 billion on gift cards (42 percent) and $1.8 billion on consumer electronics (20 percent). In addition, $878 million will be spent on home improvement supplies (16 percent), $862 million on personal care products (19 percent), $844 million on greeting cards (63 percent) and $830 million on tools or appliances (16 percent). Another $798 million will be spent on sporting goods or leisure items (16 percent), $686 million on automotive accessories (16 percent) and $628 million on books or music (22 percent).
This year’s survey found 47% of consumers plan to give a “special outing” gift, such as a concert, sporting event or dinner. This category represents the largest share of spending at $3.2 billion. (source: www.nrf.com)
I think that they are missing something. It’s 2018 – It is ALL ABOUT TECHNOLOGY for Dad.
Golfer Dad – Garmin Approach S60. The Sleek approach S60 GPS golf watch includes her most sophisticated golf features, it makes a bold statement to the game of golf on and off the course. Get the relevant information you need for your round intuitively presented on a large 1.2 which sunlight readable color touchscreen, so you can master your game. And what convenient quick fit bands you can change your style to match your activity.
Musician Dad – Sonus Beam The smart, compact soundbar for your TV. With the all-new Sonos Beam, listen to your favorite music, TV, movies and more in rich, detailed sound. Easy voice control allows you to turn it up without taking your eyes off the action or your hands off the game controller. And at a compact 25.6 inches, it won’t block the TV or overwhelm your space.
Oenophile Dad aka “The Wine Dad” – get Dad a great bottle of wine from The Bounty Hunter Wines in Napa Valley. They “have a guy or a gal” for you to find the exceptional wines, spirits, and the best of Wine Country with a fun, approach and uncompromising standards. In business since 1994, our motto is “if it’s not great, we don’t sell it.” Give Paige LaBue a call 707-260-0604 and tell her I sent you. She is outstanding!
Weekend Warrior Dad – Sleep is important when taking on those “athletic challenges” like a Tough Mudder, a half-marathon or a triathlon. Help Dad measure his sleep habits with the Nokia Sleep Sensing & Home Automation Pad. This streamlined nighttime accessory fits under a mattress and tracks heart rate, sleep cycles and snoring, giving the insight to encourage people to get higher-quality rest. When people need extra help to fall into restful slumbers, they can listen to peaceful ambient noises — that’s an option available directly from the Google Home speaker.
Over-Connected Dad – How many technology devises does Dad have? Yes, he still has his iPod that he runs with for his weakened warrior activities. He owns multiple electronic devices. – a laptop, a smartphone, a smartwatch, tablet, or other mobile or wearable gadget. Keep him charged up with the Ventev desktop charging hub This is a practical gift for Dad and his sizeable electronics collection. The charging hub powers multiple devices at once via three USB outputs, with one dedicated rapid charge USB port at 2.4A. It also has 2 surge-protected outlets, grounded LED lights, and 2 device stands that the company promises are compatible with most device cases. He can use it at home, in class, or in the office.
Yes, you can always get Dad a tie or some funky socks however in a modern-day society, a good easy to use gadget can go a long way.
Have a great weekend
Michael Tannery CPA, CDFA® AIF®
Tannery & Company
Tax – Accounting – Wealth Management
Be A Financial Olympian™