Wednesday, June 3, 2009

Recession Or Not, Dad Still Gets A Tie

WASHINGTON, D.C. (Wireless Flash - FlashNews) – Whether times are tough or not, Dad is still getting a tie for Father’s Day (Jun. 21).

According to a survey by the National Retail Federation, gift givers are planning to spend $1.3 million on new socks, slacks, and – what else? – ties for Dad.

Though spending is down some, Americans will still drop an average of $90.89 on Pops this year, with total spending expected to reach $9.4 billion.

Here’s the breakdown:

  • People will spend the most – $1.9 million – on a special outing for Dad, like dinner or a sporting event.

  • $1.2 million will be spent on gift cards for Daddy dearest, while $1 million goes toward electronics, $548 million on books or CDs, $522 million on home improvement items, and $502 on sporting goods.

  • 33.9 percent of Americans will shop for Dad at discounters, while 33.7 percent head to department stores.

  • 51.1 percent of folks say they’re only buying gifts for their father/stepfather, while 28.6 percent will shop for their husbands.

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