SURVEY: FATHER'S DAY BEST TIME TO FIND TOOL DEALS
Jun. 9, 2014
Source: FatWallet.com press release
Beloit, Wisconsin -- FatWallet.com, the one-stop resource for online coupons and deals with cash back savings, announced results from its Tools Shopping Survey. Of 1,000 American adults surveyed online, more than 8 in 10 said they buy tools every year, with nearly 4 in 10 saying Father's Day is the best time to find deals on tools (compared to 18% on Black Friday). Lawn and garden tools were most in demand this year (38%) over combination power tool kits (20%), while Craftsman leads the way as most popular tool brand (38%) over Black & Decker (26%) and DeWalt (19%).
Overall home improvement spending is expected to grow 6.8% this coming year to nearly $313 billion in 2014 (Home Improvement Research Institute). FatWallet's tools shopping survey also reveals that 87% of those that buy tools will spend up to $250 on tools this year (13% will spend more than $250).
Key Results from Tools Shopping Survey:
•How Often: 81% purchase tools at least once this year, 40% more than once (50% under the age of 40). 20% buy tools 3-4 times a year (25% for those w/children). 19% have "never" purchased tools (13% of males).
•Best Time to Buy: 39% say Father's Day is best time to find deals on tools, more than Black Friday (18%), Cyber Monday (1%) and December Holiday (12%) combined. 30% said Spring Sales offered the best tool deals.
•Tool Spend, or Not: 1/3 of males said the only thing to stop them from buying tools is if they "run out of money". 58% will spend less than $100 while 29% will spend between $100 - $249 (36% under the age of 40). 13% will spend $250+. On the contrary, 1 in 4 said they either have way too many tools or are too busy to take on home projects and 1 in 5 admit they have tools they've never used before.
•High Demand: Lawn and garden tools are most coveted (38%), especially for females (46%) and those w/children (44%). Cordless-combo power tool kits and hand tools (20%) are next followed by power drills (15%), tool box/storage (13%) and circular saws. Note: 2/3 of respondents say Quality/Durability most important feature for power tools.
•Top Brands: 4 in 10 choose Craftsman as their most desired tool brand, while 26% like Black & Decker, 19% go for DeWalt, and 5% or less would choose either Makita, Ryobi, Bosch or Milwaukee.
"Technology allows us to build and repair stuff around the home-faster, easier and cheaper than ever before," stated FatWallet spokesperson, Brent Shelton. "Deep discounts online for newer tools and tech gadgets during Father's Day promotions has created a windfall of savings and selection for early June shoppers."
To help shoppers save money, FatWallet hosts a one-stop shop featuring hundreds of Father's Day Deals with increased cash back from dozens of major stores, including Home Depot, Sears, Kmart and BackCountry. The promotion also features the best trending prices on laptops, smartphones and tablets from top stores like Dell, Samsung, Microsoft and HP, and shoppers will find additional cash back savings from stores like Jos A Bank, JCPenney, Ashford, GoDaddy with special exclusive offers from Living Social through June 13.
As the preferred online resource for millions of smart consumers, FatWallet rewards consumers by providing cash back on purchases while also providing access to thousands of coupons, discounts, and promotions at over 1,500 retailers including eBay, Best Buy, Walmart, and Amazon. FatWallet members have earned more than $50 million to date. The much celebrated FatWallet forums represent the pulse of an evolving online marketplace where savvy shoppers gather to share and learn. FatWallet is owned by Ebates Inc., which owns and operates the world's most rewarding online shopping programs.