Retail spending could jump 9% for Father’s Day

Australia’s independent retailers could see a 9% increase in shopper spending this week leading up to Father’s Day, according to data from leading retail software firm Vend. And, they’re also likely to see a 7% increase in spend this weekend alone, compared to an average shopping weekend.

Vend analysed retail spending and sales trends from the past two years to determine what Australian indies might expect this Father’s Day.

Last year, spending increased by 10% in the week leading up to Father’s Day, however overall trends in the data didn’t surface any major increases across the board, indicating that any boost in spending is likely to be similar to previous years.

“Retailers probably won’t see their best-ever sales results for Father’s Day this year. That’s not quite the retail environment we’re in right now,” says Dave Scheine, country manager for Australia at Vend.

“But we can see that Father’s Day consistently brings a decent lift for the majority of our retailers, and we expect that lift to happen again – especially for food and drink, and sports and outdoors stores. Which means dads around the nation can rest-easy, knowing they may receive something other than socks or a tie this Sunday.”

Retail stores that are tipped to see the biggest spending increases this week compared to an average week are speciality food and drink stores (including liquor stores) with a 17% increase, and sports and outdoor stores with a 10% increase. While florists and fashion retailers may see no increase, or even a slight decrease in spending.

According to Vend’s data, discounting levels also tend to be higher in the lead up to Father’s Day, and this trend looks to be increasing. Vend predicts that discounting levels this week will hit levels 8% higher than an average week, as retailers aim to entice shoppers with deals for dad.