Consumers opt to spend more on Father’s Day gifts
WASHINGTON — Consumers will show their love for Dad this year by spending more on Father’s Day gifts than in the prior year, according to the National Retail Federation.
According to NRF’s Consumer Intentions and Actions Father’s Day survey, conducted by BIGresearch, U.S. consumers will spend an average of $106.49, up from $94.32 last year and the most in the survey’s eight-year history. What’s more, the spending gap between Mother’s Day and Father’s Day substantially has narrowed.
Total Father’s Day spending is projected to reach $11.1 billion among consumers ages 18 years and older.
“Spending on Dad has taken a backseat for the past few years, but some kids and wives are planning to make up for lost time this Father’s Day,” said NRF president and CEO Matthew Shay. “Shoppers seem to be more excited when it comes to gift giving, an encouraging sign for retailers — and dads — everywhere.”
Target reveals initial locations in Canada
MINNEAPOLIS — Target has unveiled the first wave of the Zellers sites it will be taking over in Canada, representing 105 locations in all 10 Canadian provinces.
The vast majority of the sites will become Target stores after securing the necessary construction approval for extensive renovation. The stores will open beginning in 2013.
The majority (45) of the locations are in Ontario, with 19 in Quebec. The other Canadian locations include 15 in British Columbia; 13 in Alberta; five in Manitoba; two each in Saskatchewan, Nova Scotia, Newfoundland and Labrador; and one each in New Brunswick and Prince Edward Island.
Each selected site is subleased to Zellers and will continue to operate as a Zellers store for some time. Six to nine months prior to opening as Target stores, the majority of stores will be closed for significant remodeling. On average, about $10 million will be invested in remodeling each location.
“We look forward to completing our selection process during the next several months, moving us one step closer to delivering the Target-brand shopping experience to our Canadian guests," said Tony Fisher, Target Canada president.
Target also announced that its Canadian headquarters will be located in Mississauga, Ontario. The company will occupy about 180,000 sq. ft. in a building that was built to Leadership in Energy & Environmental Design (LEED) Gold standards and is owned by Healthcare of Ontario Pension Plan. After some remodeling, the majority of Target’s Canadian corporate team will begin occupying the space in early 2012.