Digging deep for Dad

Celebrating the nation’s Dads has become big business with almost a billion dollars spent for Father’s Day last year, according to ANZ credit and debit card customer spending data.

ANZ cardholders spent more than $932 million over the Father’s Day weekend last year - up four per cent compared to spending over the same weekend in 2022.

"Interestingly, men spend more for Father’s Day than women - either spending it on their own Dad or spoiling themselves, according to ANZ Data."

Spending on the Father’s Day weekend last year also outstripped the other weekends in September in 2023. There was a six per cent rise in ANZ cardholder spending compared to other weekends in September 2023 which represented an additional $51 million of expenditure.

But where does the money go?

Wining and dining Dad

Pizza, burgers, fine wine and a night out to a gig were the main ways our customers splashed cash on Dads for their special day, ANZ’s Data shows.

The biggest expense category was $105 million spent on take away food, cafes and restaurants.

The second-biggest spend category was entertainment like concerts and films, where ANZ cardholders spent $48 million. Spending in this category grew by 10 per cent compared to the same period in 2022.

The third-biggest category was wineries and bottle shops where ANZ cardholders spent $45 million.

Other categories where customers spent on Father’s Day included $37 million on clothing and accessories, $32 million at other retail and goods stores and $27 million on household appliances and furnishings.

State of giving

ANZ’s Data shows Dads in Victoria appear to be the most spoilt with the highest total spend of $244 million over weekend last year, up from $235 million in 2022.

New South Wales had the second-biggest Father’s Day weekend - splashing out $229 million, from $221 million in 2022.

Third was Queensland with spending of $170 million, up from $164 million in 2022.

When it comes to a percentage boost in what ANZ cardholders spent on Father’s Day by state/territory compared to other weekends in September, people in South Australia and the Northern Territory increased their spending the most.

Each of these states and territories recorded a ten per cent boost last year compared to an average weekend in September.

An additional $6.4 million was spent in South Australia (taking that state’s spend to $68 million) and an extra $900,000 was spent in the Northern Territory (taking its spend to $8.8 million).

Who is spending?

Interestingly, men spend more for Father’s Day than women - either spending it on their own Dad or spoiling themselves, according to ANZ Data.

Men increased their spending by 4.7 per cent or $21 million over Father’s Day weekend last year compared to other weekends in September, spending $470 million in total.

Women however had a greater increase in their spending over Father’s Day last year compared to the other September weekends – a 7.4 per cent increase or $31 million, with total spend of $451 million.

Men also spent more than women in the food, alcohol and technology categories, while women spent more than men in the clothing, accessories, personal health and beauty categories.

Another interesting area of growth was a 33 per cent boost in charitable and welfare giving last year. These donations hit $5 million in 2023.

Another new trend was the leap in spending on memberships – ranging from religious, political to automobile clubs. This type of spending was up 46 per cent.

Sales in duty free stores rose by 38 per cent last year, perhaps reflecting the increase in Australians travelling overseas.

Either way, the volume of money spent and the diversity of gifts seems to have expanded greatly. Now when we’re pondering what to get Dad this year – the answer does not have to be a new pack of socks or jocks.

Yiken Yang is Deposits & Payments Lead, Australia Retail at ANZ.

DISCLAIMER

The information provided in this article is based on data collected by ANZ’s Retail Analytics team in accordance with the ANZ Saving & Transaction Products Terms and Conditions, the ANZ Credit Card Conditions Of Use and ANZ Privacy Policy.