Consumers Rank Father's Day Sales Best for Tools Purchases
Wednesday, July 1, 2015
Posted by: Elizabeth Nicholas
Consumers Rank Father's Day Sales Best for Tools Purchases - Virtual Strategy Magazine
June 8, 2015
Tools Shopping Survey reports 1 in 10 Americans will buy new tools as Father's Day gifts, while 8 in 10 buy new tools for themselves, especially in June.
BELOIT, Wis., June 8, 2015 /PRNewswire/ -- FatWallet.com, where millions of online deal hunters go to stack coupons with cash back, announced results from its annual Tools Shopping Survey* (TNS Global) where 8 in 10 said they will buy new tools this year. Ranking Father's Day as the best time to find tool deals (Black Friday was second), 1 in 10 will buy tools as Father's Day gifts this year, ahead of those gifting apparel (9%) and electronics (8%). Lawn and garden tools (24%) repeat as most wanted, as Craftsman retains the title for most or tool brand (37%) and almost half surveyed will buy new tools at Home Depot this year (48%).
The survey also reports that 90% of those that buy tools will spend up to $250. Home improvement spending is expected to increase by 5.8%, 73% of homeowners in 2Q 2015 reported planning one or more projects in the next three months, averaging +4 projects per this group of homeowners (Home Improvement Research Institute). "While the holidays offer great deals on select tools, June sales feature deals on a wider variety of both tools, and the materials homeowners need to get those DIY projects started," stated Brent Shelton, FatWallet Shopping Expert. "Whether shopping for Father's Day gifts, or personal needs, June is hands down the best time of year to budget for new power tools, tool storage, paint, building materials and lawn and garden equipment."
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