Aussies love their dads. That’s not being questioned. But for some reason, they will spend less than half what they spent on Mother’s Day this Father’s Day which is just around the corner. I for one blame it on chocolate chip cookies, mums always have those…
Recent research by IBISWorld indicates that compared to an estimated $1.4 billion on Mother’s Day, Australians will spend only $676.5 million for Father’s Day 2013. In fact, if you are a father, you should not raise your hopes beyond lunch or dinner and a gift card.
The analysts over at IBISWorld predict that come Sunday 1 September, the average adult Aussie will spend around $37.30 on their dad, with gift cards and vouchers expected to be a common present of choice. At the neighbourhood store, “Hey mate, your kids gave you a voucher too?”
Explaining this trend, IBISWorld General Manager Ms Karen Dobie said it is a combination of a “save rather than spend” mentality and the perception that dads would be satisfied with a gift card or a meal with the family rather than an expensive present. I can hear many scream of “No! I want a Ferrari!”
“Plenty of dads will be opening gift cards rather than unwrapping presents this year, as convenience comes into play alongside strong marketing from online group-buying websites, which have promoted discount offers targeted at Father’s Day,” said Dobie.
Plus, with the increasing consolidation across the retail landscape, individual gift cards can often be used at a number of different brand stores, so dads can choose a gift they actually want.
However, in terms of overall spend, dining out will still dominate this Father’s Day with Australians tipped to spend $174.5 million in cafes and restaurants for dad’s big day, a 5.8 percent increase from 2012.
“Our day-to-day spending on dining out has been subdued of late and a number of prestige restaurants have closed their doors. Consumers perceive restaurants as ‘special occasion’ destinations, and Father’s Day is such an event,” Ms Dobie explains.