Australians to spend $540m on Father’s Day amidst decline in spending

The top gift category is alcohol and food, accounting for 34% of total spending.

Australians are set to spend $540m (AU$820m) on Father’s Day gifts this year, according to Australian Retailers Association (ARA).

The top gift categories are alcohol and food (34%), clothing, shoes, and sleepwear (15%), and books, games, and music (15%).

Over 8 million Australians plan to buy gifts, spending an average of $66 (AU$101) each, down from last year’s $74 (AU$112). Total spending is expected to fall by $20m (AU$30m), or 3.5%, from last year’s $560 (AU$850m).

“We predict a dip in spending habits this year, with many households continuing to feel the cost-of-living crunch, but Father’s Day remains a seasonal highlight for Aussie retailers and this year will be no exception,” said ARA CEO Paul Zahra.

“The spending dip is concerning given we have seen significant population growth across the past year, and it speaks to continued tough times for many retailers despite the seasonal pockets of positivity,” he added.

About 800,000 Australians have already purchased gifts, spending $49m (AU$75m), with 53% taking advantage of sales.

Father’s Day is on Sunday, 1 September 2024.

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