Total revenue increased in shopping centres by 65% this Father’s Day, according to Coniq, a European CRM and marketing insight platform for shopping centres. The number of transactions also rose by 61% in comparison to last year, as shoppers continue to spend money on gifts, despite the economic uncertainty surrounding Brexit and consumer confidence being […]
Total revenue increased in shopping centres by 65% this Father’s Day, according to Coniq, a European CRM and marketing insight platform for shopping centres.
The number of transactions also rose by 61% in comparison to last year, as shoppers continue to spend money on gifts, despite the economic uncertainty surrounding Brexit and consumer confidence being hit by inflation over the past few months. And fashion brands saw the most offers redeemed in-store.
Daughters proved true “Daddy’s girls” and spent 123% more than sons on gifts over the weekend. Despite the warm weather, shopping centres saw 58% more customers this year on Father’s Day as children made last minute purchases. And the average spend on Dad’s this year was a healthy £220.
However, while spending on gifts rose, hospitality businesses within centres took a hit as the weekend heatwave saw families entertaining at home or al fresco, rather than staying indoors to dine. Hospitality venues saw a drop in revenue of 45% YOY on Father’s Day itself.
Ben Chesser, founder and CEO at Coniq, commented: “Our data shows that key gifting days, such as Father’s Day, continue to be a key draw for shopping centres and their tenants. In spite of reports of consumer confidence being hit, with inflation rising and the economic uncertainty surrounding Brexit, it seems consumers have been undeterred in their spending, and they are still willing to splash out on little luxuries, around key gifting days.”
Source: Coniq
