Australia’s doting dads may feel a little underappreciated on Sunday with news that we will spend on average just $37.50 on them this Father’s Day, half of what we spent on Mother’s Day this year.
According to IBISWorld, $676.5 million will be spent on Father’s Day, compared with the estimated $1.4 billion spent on Mother’s Day.
The reason for our thriftiness according to Karen Dobie, General Manager of IBISWorld is a combination of the “save not spend” mentality and the perception that dads would be satisfied with a meal with the family rather than an expensive present.
Is this true dads? You’d prefer a bbq at home with the family or DVD than a new home theatre system or road bike?
There is more bad news for dads. Not only are we being more frugal towards the man in our lives, we’re also opting for convenience over searching for that perfect Father’s Day present. Spending on giftcards and vouchers is expected to outperform all other Father’s Day categories says IBISWorld, up 8.4% to a total of $75.1 million.
But giftcard buyers and receivers be warned. Mozo recently revealed that unused giftcard are one of our nation’s top 10 money wasters. Each year around $0.36B is wasted on giftcards that expire before they get used.
How much are you planning on spending on Dad this father’s day? Tell us by writing a comment below.