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This year’s celebration is expected to deliver $753 million to the retail sector, a three per cent increase from last year.
This is the healthiest consumer sentiment Australia has seen for the holiday in three years.Money spent on dad has increased due to a growing market of gifts for men, according to IBISWorld Australia general manager Daniel Ruthven.
"There has been a perceived lack of gift options for fathers, but there is evidence that Australian dads are becoming increasingly comfortable with personal-care gifts from aftershave balm to hand moisturiser, rather than the standard gift of socks and ties," says Ruthven.Ruthven is forecasting a growth of 12.7 per cent in personal care gifts; followed by footwear, clothing and accessories growing by 5.6 per cent; and tools, hardware and electronics growing 4.4 per cent from last year.
However, mothers still win out IBISWorld reports, with Mother’s Day expenditure typically nearly doubling its male counterpart each year.
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