Celebrating the Fathers in Our Lives
Thursday, June 16, 2016
Posted by: Matthew Craig
We’re in the third week of June, which means a couple things: schools are now out for summer, it’s starting to get pretty hot across most of the country, and Father’s day is this weekend. It’s that time of the year we show our fathers how much we appreciate them, and as stereotypical as it may sound, that is often with some sort of home improvement product or tool.
There are more than 70 million fathers in the United States, according to the National Bureau of Economic Research, and leading up to this weekend, much will be spent on them. The National Retail Federation conducted its Father’s Day survey recently, and found expected spending for Father’s Day to reach $14.3 billion in 2016. Of that, roughly 31% will be receiving a tool, appliance, or home improvement/gardening supplies, accounting for more than $1.6 billion.
According to HIRI’s most recent Sentiment Tracking Study, this huge number should come as no surprise. Fathers, are some of the most prolific when it comes to home improvement projects. Heavy project planners (those planning six or more projects in the next three months) are, on average, in their mid-thirties, married, and with almost 71% of them having children under the age of 18 in their household.
We here at HIRI wish all of you fathers out there a happy Father’s day.