55% of Australian consumers prefer eco-friendly Father’s Day gifts

More than half of Australian consumers plan to opt for eco-friendly Father’s Day gifts this year. The rising cost of living impacted the buying decisions of 42% of these consumers, with food/alcohol (28%) emerging as the top shopping choice for the occasion.

The survey, which was conducted jointly by the Australian Retailers Association (ARA) and market research firm Roy Morgan, involved 2,299 participants aged 18 and over. Spending on Father’s Day gifts nationwide is expected to hit $735 million, with shoppers looking to spend an average of $95.

Around 55% of Australian consumers plan to opt for eco-friendly Father’s Day gifts this year. The rising cost of living impacted the buying decisions of 42% of these consumers, with food/alcohol (28%) emerging as the top choice for the occasion. Spending on Father’s Day gifts nationwide is expected to hit $735 million.

Clothing/shoes and gift cards/vouchers were preferred by 18% and 14% of consumers, respectively. About 36% of Australian consumers plan to buy a Father’s Day gift, down 4% from the previous year.

“There is no doubt that this is an incredibly difficult time for many businesses and consumers as inflationary pressures take hold. Mortgage holders are under additional financial stress with four consecutive interest rate hikes, and with consumer confidence falling, it’s no surprise to see Father’s Day spending forecasts drop a little this year,” ARA CEO Paul Zahra said in a statement. Press release.

“Father’s Day is the last gift giving event before Christmas and provides retailers with a good barometer of how consumer discretionary spending is likely to track during the festive season.” The concern is that inflation has yet to peak and with cost of living issues likely to get worse before they get better, consumers will be squeezed even more when it comes to their discretionary purchases,” a- he added.

Father’s Day in Australia, which is observed on the first Sunday in September, will be celebrated this year on September 4.

Fibre2Fashion News Office (NB)


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