Father's Day Can Be a Small-Business Bonanza
NEW YORK (TheStreet) -- Father's Day is just around the corner, and so is the last-minute gift shopping -- mainly in the home improvement, electronics and bad-tie aisles. But department stores and large discount retailers don't have to be the only ones that profit from shopping for Dad.
Small businesses can make their mark this Father's Day by displaying their uniqueness and offering superior customer service.
|Department stores and large discount retailers don't have to be the only ones profiting from Father's Day. Small businesses can also get in on the action.|
Total spending for Father's Day is expected to reach $11.1 billion this year. On average, Americans will shell out $106.49 on Dad, 13% more than they spent last year and the most in eight years, according to the National Retail Federation's Consumer Intentions and Actions Father's Day survey, which polled 8,344 consumers between May 3-10.
According to the survey:
- $2.1 billion will be spent on activities such as golfing, dining out or the movies;
- $1.4 billion toward gift cards;
- $1.4 billion on clothing;
- $1.4 billion on tools and appliances;
- $1.3 billion on electronics;
- $653 million on sporting goods;
- $593 million on automotive accessories.
- 35.2% at a department store;
- 32.2% at a discount store;
- 26.9% at a specialty store;
- 22.1% online;
- 8.9% at a specialty clothing store.
- Offer an array of unique merchandise that would appeal to dads (think outside the box);
- Develop a high level of familiarity with customers;
- Be resolute in making service remarkable, establishing loyalty.
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