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Father's Day Spending Dips
WASHINGTON -- Though slightly more consumers will be celebrating Father's Day this year, they will be spending less on the holiday. The NRF 2004 Father's Day Consumer Intentions and Actions Survey, conducted by BIGresearch for the National Retail Federation, found that 72.1% of Americans plan to celebrate Father's Day. Those who will celebrate plan to spend an average of $86.19, down from a high of $99.65 last year. Father's Day spending this year is expected to reach $8.04 billion. Comparatively, 81.8% of consumers celebrated Mother's Day in May and spent $10.43 billion on the holiday.Most dads can at least bet on receiving a greeting card, with nearly three in four consumers (74.3%) planning to purchase at least one card. Other popular gifts this year will include clothing (35.6%), gift cards or gift certificates (27.6%), and books or CDs (23.8%). Nearly half of consumers (41.6%) are planning a special outing for dad on Father's Day."Even though consumers are spending a little less, Dad won't be forgotten on Father's Day," said Tracy Mullin, NRF president and chief executive officer. "Consumers still appear a little cautious when it comes to discretionary spending. Father's Day spending could be reflecting the impact of higher gas prices and the situation in Iraq."A large part of the decrease in Father's Day spending can be attributed to spending by women. Last year, women spent an average of $101.38 on Father's Day; this year, they plan to spend $89.77. Men's spending for Father's Day will increase this year, from $70.89 last year to $82.19.Though more consumers plan to shop at department stores for Father's Day gifts this year (34.2%, up from 30.1%), many Father's Day shoppers (36.4%) will still head to discounters.The NRF 2004 Father's Day Consumer Intentions and Actions Survey polled6,899 consumers and was designed to gauge consumer behavior and shopping trends related to the Father's Day holiday.Visit NRF at www.nrf.com."