Father’s Day is celebrated all around the world. The date varies from country to country, but the sentiment remains the same: we all want to show our dads how much we care. So it is not surprising that spending on Father’s Day gifts is rising. In 2015, in the US alone, consumers spent $12.7 billion on Father’s Day, which is a staggering $115 per person.
With Father’s Day in the UK on the horizon (19th June), now is the perfect time for retailers to boost Q2 sales and drive takings for the first half of the year. But how can smaller retailers, competing against giants in their sectors, ensure that they are getting a slice of the cake?
For the man who has everything…
According to research by Outbrain, spending on Father’s Day gifts is lower than Mother’s Day but browsing numbers are much higher. This shows that many consumers are searching for that perfect gift, but often they don’t find it. This gives savvy retailers a unique opportunity to influence customers’ purchasing decisions and target them with the products and services they have to offer.
To ensure that they advertise the right options to the right audiences during this period, retailers need to know their customers – and who in fact their customers are buying for! Naturally, dads are the biggest gift receivers, but nearly 28% of husbands can expect a gift, along with 9% of sons. These are the smaller, less obvious markets that smaller retailers can target to get ahead of the competition.
When customers do decide what to buy for Father’s Day, they tend to get personal, shopping for items such as cuff links that can be tailored to dad. Reflecting this in the purchase journey by offering consumers inspiration around personalized gifts can help retailers tap into this trend. It is important that brands get to know the market in this way, looking at past sales trends in order to anticipate which products consumers will want to buy before they come looking for them.
Time it right
Compared to Mother’s Day, consumers do not plan for Father’s Day buying as far in advance. This means that retailers can expect an influx of ‘panic purchases’ in the week immediately before Father’s Day.
Planning targeting advertising, such as email campaigns, to hit consumers at this point can help to create opportunities for last minute
Social channels are a great way to build brand awareness and support sales campaigns. A nimble, proactive retailer should look to share relevant content through channels such as Twitter and Facebook in the lead up to Father’s Day to direct customers to sales channels and provoke conversions.
Retailers can also look to build interest through competitions, sales and giveaways, along with seasonal promotions to help strengthen the relationship between the retailers and customers heading into Father’s Day.
An opportunity for the taking
As an evolving consumer holiday, you don’t need a big budget to inspire customers over this period and drive them towards your brand and products. What’s more, unlike other times in the year, customers are not always sure what they want to buy before they decide to buy it. In the run up to Father’s Day, the best brands will inspire and offer help, tailoring solutions to their customers’ needs.