LOS ANGELES, USA: Despite the economic downturn and retail sales plummeting, this Father’s Day it looks like dads are going from handyman to dandyman, as sales of pampering services and related products are expected to increase 35.7 percent, according to industry research firm IBISWorld.
Although pampering services only accounts for a small portion of total Father’s Day spending on the nation’s 66.3 million dads as reported by the US Census Bureau, pampering is emerging as this holiday’s fastest growing gift category with consumers expected to spend $190 million compared to $140 million in 2008.
The table below represents the percentage change in Father’s Day spending from last year across a range of popular categories:Source: IBISWorld
“Traditional Father’s Day gifts, such as tools and electronics are declining this year while spa services, personal care products, and greeting cards are increasing,” explained Toon van Beeck, senior analyst with IBISWorld. “It seems that ‘New Age’ dads are this year’s fad.”
Van Beeck added, “According the US Census Bureau, there are an estimated 66.3 million fathers in the nation today which demonstrates the impact spending on Father’s Day has on the US economy."