Shoppers Planning To Spend Slightly More On Dad Than They Did Last
Year
RIVERWOODS, Ill.--(BUSINESS WIRE)--June 9, 2008--Consistency is
key when it comes to shopping for dad this Father's Day. Similar to
last year's findings, a dinner out, a homemade gift and gift cards are
the top items dads hope to receive this Father's Day, according to the
annual Discover(R) Card Father's Day Shopping Survey. Gift givers
intend to spend $2.50 more ($69.70) than what they spent in 2007
($67.20).
"The Discover Card Father's Day Survey found that dads certainly
can be creatures of habit, as they're hoping to receive the same gifts
as last year," said Ryan Garton, director of customer insights at
Discover Financial Services. "Yet interestingly enough, our data
showed that what people plan to give isn't necessarily what dad is
looking for."
Top Gift Choices for Father's Day
Survey results show that dads hope to receive the same gifts as
last year. However, most gift givers plan to purchase other items,
which is a significant change from 2007. Most notably, more people (36
percent) plan to give gift cards, which is a 10 point increase from
2007. At 31 percent, less people intend to purchase tools or
appliances - a seven point decrease from last year. Top findings
include:
HOT GIFTS - SHOPPERS' INTENTIONS HOT GIFTS - RECIPIENTS' DESIRES
======================================================================
39% Sports or hobby-related gift 46% Dinner out at restaurant
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36% Gift card 44% Home-made gift
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33% Dinner out at restaurant 37% Gift card
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32% Music/books/DVD's or games 27% Music/books/DVD's or games
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31% Tools or appliances 27% Tools or appliances
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23% Electronics or computer- 27% Sports or hobby-related gift
related gift
----------------------------------------------------------------------
14% Home-made gift 20% Travel/weekend getaway
----------------------------------------------------------------------
7% Travel/weekend getaway 20% Electronics or computer-
related gift
----------------------------------------------------------------------
Father's Day Purchasing and Spending Intentions
Up four percentage points from last year, 46 percent of all
respondents said they plan to purchase Father's Day gifts this year.
Fifty-two percent do not plan to purchase a gift and two percent said
they might purchase one.
Of those who plan to purchase a gift, 67 percent of respondents
plan to give a Father's Day gift to their dad. Twenty-two percent plan
to give one to their father-in-law, eight percent to their stepfather,
eight percent to their son.
The Discover Card survey revealed additional trends on who's
spending what:
SPENDING INTENTIONS(a) 2007 2008
======================================================================
Amount respondents spent or plan to spend on
their fathers $67.20 $69.70
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Amount men spent or plan to spend on their
fathers $100.30 $89.60
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Amount women spent or plan to spend on their
fathers $38.00 $49.80
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Amount women spent or plan to spend on their
husbands $81.30 $81.40
----------------------------------------------------------------------
Amount respondents spent or plan to spend on
their sons $39.00 $44.80
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(a) All figures in chart refer to average amounts for those who
plan to purchase Father's Day gifts this year and those who spent
money on Father's Day gifts last year.
Men plan to significantly outspend women this year. Of those who
plan to purchase a Father's Day gift, the average amount men will
spend is $89.60, up approximately $20 from what they intended to spend
last year. The average amount women will spend is $49.80, up nearly $7
from 2007 spending intentions.
Of those women who plan to purchase a Father's Day gift for their
husbands this year, the average amount they will spend is $81.40, an
increase of approximately $5 from what they intended to spend last
year.
Similar to 2007, forty-three percent of dads surveyed said that
they felt that $50 or less is an appropriate amount to spend on a
Father's Day gift for them. Forty percent said the best gift of all
would be a handmade gift or thoughtful gesture from the heart -
costing no money at all.
When asked if they would prefer that their children spend less
this year than last year given the economy, three-fourths (75 percent)
said less while 16 percent said no.
Online Shopping For Gifts Increases Significantly; Majority of
Consumers Will Shop for Dad on the Weekends
When asked about a preferred place to shop for Father's Day gifts,
among those planning to give a Father's Day gift, 29 percent said at a
discount store such as Wal-Mart or Target and up nearly double from
2007, almost a quarter (23 percent) said online. Eighteen percent
cited a shopping mall and the same percentage of respondents cited a
department store, such as Macy's or Bloomingdales. Three percent said
through a mail order catalog.
Of those respondents who prefer to shop online, more than half (55
percent) prefer to do so because it is the fastest and most convenient
method. Sixteen percent said because it is easier to shop around while
15 percent cited the ability to do price comparisons.
As far as when they'll do their shopping, fifty-one of respondents
will purchase their Father's Day gift during the weekend while 33
percent will do so after work. Six percent said they would purchase
their gift "some other time," five percent said during a lunch break
during the week and three percent said online during the work day.
For more information, such as complete topline survey results or
comparisons to Mother's Day shopping intentions, please call
224-405-3082.
About the Discover Card Father's Day Shopping Survey
For Discover Card's Father's Day Shopping Survey, a telephone
survey was conducted with a total of 1,004 nationally representative
adults. The research was conducted from May 15 to 18, 2008 by Caravan
Opinion Research Corporation.
About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card
issuer and electronic payment services company with one of the most
recognized brands in U.S. financial services. The company operates the
Discover Card, America's cash rewards pioneer. Since its inception in
1986, the company has become one of the largest card issuers in the
United States. Its payments businesses consist of the Discover
Network, with millions of merchant and cash access locations, and
PULSE, one of the nation's leading ATM/debit networks. For more
information, visit www.discoverfinancial.com.
CONTACT: Discover Financial Services
Mai Lee Ua
(224) 405-3082
SOURCE: Discover Financial Services