Though across the UK people spend £700m ($895m) celebrating our Fathers each year, this is half of what we spend on Mother’s Day.
The reason for this? It may sound harsh, but we think they are less important.
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Last year the proportion of people ranking Father’s Day as less important than Mother’s Day increased 15.6 percentage points, with 24.5 percent of shoppers surveyed agreeing.
As a result the gap between Mother’s Day and Father’s Day spend widened, with total retail spend on Mother’s day in 2017 valued at almost £1.4bn.
As people’s disposable incomes become squeezed due to real wage declines, they will be more reluctant to spend on occasions which they consider less important.
Father’s Day spending will become a victim of this trend.
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By GlobalDataSpending this year on Father’s Day is forecast to grow to £695.2m; however this will be predominantly driven by inflation, which in May 2017 was at a four year high of 2.9 percent.
Food will be hit hardest by increased prices and as a result is expected to grow by just 1.4 percent.
However some of this price inflation will be offset by the increased competition at the value end of the grocery market, driving growth for these retailers.
Spend on non-food will grow minimally with gifting and cards and wrapping only increasing on the year by 0.3% and 0.2% respectively.
People feel less able to spend on non-essential items right now and the discounters — such as B&M and Poundland — are ramping up their inventories for occasions like Father’s Day and will see a up tick in sales as people trade down gifts this year.
