UK retailers are set to receive a £700 million boost in sales this Father’s Day, keeping it well behind Mother’s Day spending, new research has found.
GlobalData PLC (AIM:DATA), the analytics company, said retail spending will reach £695 million this year on June 16, representing a 1.8% jump compared to 2023.
However, spending for the day is less than half that of Mother’s Day, with the March celebration seeing a higher amount of economic activity, particularly in the gifts market.
Nevertheless, hospitality venues are likely to experience a similar surge in trade on Father’s Day as on Mother’s Day, the research added.
GlobalData analyst Tash Van Boxel explained that while the Father’s Day market remains relatively small, there is “a lot of potential for growth” but it requires retailers to act promptly.
Van Boxel said: “The UK has grown accustomed to celebrating the occasion at home. The most popular option chosen by those intending to celebrate the occasion was spending time with family or visiting Dad.
“They must promote food and drink offers to attract those hosting events at home to mark the occasion.”
She noted that 40% of Brits say retailers don’t do enough to inspire gift ideas and therefore may need to ramp up advertising for the holiday.
“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,” Van Boxel added.
“In contrast, Mother’s Day gifting displays often appear in February, just after Valentine’s Day.”