Father’s Day is forecasted to bring an £834 million boost to the UK retail market, says new research released today by Savvy. That’s up by 4.4% on the year-on-year (YoY) basis.
The report surveyed 1,000 UK shoppers on their attitude towards shopping during Father’s Day.
Father’s Day is beginning to gain momentum as a mini-peak, with 53% of the polled UK consumers say they will spend throughout the event.
Amazon is the choice of inspiration for Father’s Day shopping
According to the report, 45% of the surveyed shoppers plan to shop on Amazon for inspiration. Amazon sellers can be sure to get their ‘slice of the cake’ as consumers are more likely to shop for a variety of products on Amazon. Sellers can prepare for the event by honing their products’ tiles description, displaying relevant photos and staying on top of their communication. Merchants can expect to get flooded with customer enquiries as consumers will attempt to get their perfect gift. This will present an opportunity to upsell the product but also solidify the customer-seller relationship.
What will consumers shop for?
The research says that 61% of the respondents will be buying congratulatory cards this Father’s Day. Shoppers say that they plan to do so at the last minute. This means more pressure on merchants to deliver the last minute purchases to stay on top of shoppers’ demands. Some 23% of the polled UK shoppers say they plan to shop for chocolates, and another cohort (20%) aims to buy books, CDs and DVDs. The majority (69%) of the customers say that they “don’t mind spending more” to make their Father’s Day special.
These findings highlight many opportunities the Father’s Day can bring to merchants. In the short-term, sellers can expect to get their financial share of the predicted value. In the long-term, the event can serve as a chance to raise brand awareness, convert new prospects into buyers, and build loyalty.
