Economy

UK consumers plan a £799m expenditure for Father’s Day

UK consumers are expecting to spend £799m on gifts for Father’s Day this year, a study has found.

Data gathered by retail and shopper marketing agency Savvy revealed UK shoppers plan to spend £799m this year to celebrate the occasion.

The survey found consumers aged 35 – 44 are most likely to participate with 45% of shoppers trading up to buy more expensive food and drinks.

Up to 70% of consumers asked said they were bored by the Father’s Day products in shops and 58% of shoppers said they would spend more if better gifts were available.

The poll also revealed 65% of consumers plan to buy ahead of the day while 47% will leave it to the last minute.

The insight director at Savvy, Alastair Lockhart, said: “Father’s Day marks the end of a solid performance for the events calendar during the first half of 2018, which has provided some positivity in an otherwise challenging retail market.

“Following on from the feel-good warm weather of May and early June, and overlapping the start of the World Cup, Father’s Day looks set for a strong sales performance.”

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