According to leading data and analytics company GlobalData, the UK Father’s Day market is less than half that of Mother’s Day.
With retail spending on Father’s Day in the UK forecast to reach £695m in 2024 – up 1.8% on 2023 – retailers must kick off Father’s Day promotions earlier.
The UK Mother’s Day market is boosted by consumer spending on gifts, although food spend is similar to that on Father’s Day.
GlobalData retail analyst Tash Van Boxel highlights the potential for growth in the UK Father’s Day market, but points out that this is contingent on retailers capitalising on the opportunity.
“Retailers must promote food and drink offers to attract those hosting events at home to mark the occasion, to appeal to consumers who choose to celebrate by spending quality time with their fathers.”
GlobalData’s May 2024 monthly survey of 2000 respondents finds that 40% of consumers find it hard to buy the right thing for their loved ones this Father’s Day and a further 40% agree that retailers don’t do enough to provide gift inspiration for the occasion.
Retailers can combat this uncertainty by increasing advertising around the occasion, showcasing their range of affordable gifts.
Van Boxel adds: “Most retailers do not market Father’s Day gifting and card options until close to the occasion, meaning that consumers are unlikely to start spending early and spread the cost, or indeed be encouraged to pick up small add-ons that can quickly mount up to a larger spend on the event.”
This is in contrast to Mother’s Day gifting displays which often appear in February, just after Valentine’s Day on the 14th, giving consumers gifting inspiration well in advance.
Retailers need a similar marketing schedule for Father’s Day to bolster demand and promote growth in the UK Father’s Day retail market.
Source from Retail Insight Network
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