Survey: Shoppers expected to spend more this year for Father’s Day
Washington D.C. Americans will spend slightly more this Father’s Day, according to the National Retail Federation’s 2010 Father’s Day Consumer Intentions and Actions Survey, conducted by BIGresearch.
The average person will spend $94.32 to celebrate the holiday this year, up from $90.89 last year. Total Father’s Day spending is expected to reach $9.8 billion.
The survey found that 39.9% of those celebrating the holiday this year would treat him to a special outing, such as dinner or brunch. The survey also found that 36.7% would give him clothes as gifts.
Others will shell out $1.2 billion on electronics; $749 million on greeting cards; $578 million on tools or appliances; $550 million on home improvement or gardening tools; and $400 million on automotive accessories. Three-out-of-10 (31.2%) will give dad a gift card, spending an estimated $1.2 billion on those purchases.
“A slight uptick in Father’s Day spending is another sign people are starting to open up their wallets again,” said NRF president and CEO Matt Shay.
When it comes to where people will purchase their gifts, discount stores (34.4%) and department stores (34.1%) will see the most traffic. Specialty stores (26.4%), online (20.5%) and specialty clothing stores (7.6%) will also be popular shopper destinations, the survey said.
Macy’s celebrates Pride month
NEW YORK Macy’s announced that it has celebrating Pride month with a multitude of in-store fashion events, advertising support, special tribute windows in select stores, gift registry booths for same-sex couples in key cities, as well as sponsorship and employee participation in Pride parades across the country.
“We are proud to support our LGBTQ employees and consumers through initiatives that recognize and honor our commitment to diversity and inclusion,” said Corliss Fong, Macy’s vice president of diversity strategies. “Macy’s remains a steadfast supporter of inclusiveness in all aspects of our business and we join in celebration with millions across the nation who live with pride and joy this June.”
GameStop announces exec promotions
GRAPEVINE, Texas GameStop has announced the promotion of existing executives into new positions within the company.
The promotions include: Daniel DeMatteo, executive chairman, from CEO; J. Paul Raines, CEO, from COO; Tony Bartel, president, from EVP merchandising and marketing; and Robert Lloyd, EVP and CFO, from SVP and acting interim CFO.
“I am pleased to congratulate the team along with our board on the execution of this succession plan that has been two years in the making,” indicated Dan DeMatteo. “Paul, Tony, Rob and Mike are filling key positions that will allow GameStop to continue its growth both here and internationally. This includes expansion into new markets and continued focus on strategic initiatives such as our new loyalty program, downloadable content (DLC) marketing and sales, and the evolution of GameStop.com into a robust digital platform.”