According to data and analytics company GlobalData, Father’s Day spend is forecast to reach £635m in 2019, less than half of the amount spent on Mother’s Day. However, the occasion will experience higher growth with spend set to rise by 1% (equating to £6.2m).
While the gifting market is significantly smaller for Father’s Day, compared to Mother’s Day, the market is outperforming and is forecast to grow marginally to reach £352.7m this year.
Global Data adds that with retailers such as Card Factory expanding their gifting ranges – particularly for special occasions – consumers have greater access to low value gifting ranges.
The findings also revealed that gift retailers showed more sensitivity to customers were not taking part in the occasion. “Marks & Spencer, Superdrug and MenKind emailed subscribers ahead of the event to ascertain if they wanted to receive communications promoting ranges,” explained GlobalData’s retail analyst Zoe Mills.
She continued: “Retailers were acting sensitively to ensure their customers were not receiving unwanted communication. However, this also resulted in consumers being more aware of the event ahead of time. This is a relatively new retail trend, but many retailers have already applied greater sensitivity around occasions and we expect to see more following suit in future especially around events such as Valentine’s Day.”
The company predicted that cards and giftwrap would be the best performing categories, with the anticipated spend rising 1.4% on 2018.
Top: Among the men’s gifts from Really Good/Soul.
