Consumers Rank Father's Day Sales Best for Tools Purchases

BELOIT, Wis., June 8, 2015 /PRNewswire/ -- FatWallet.com, where millions of online deal hunters go to stack coupons with cash back, announced results from its annual Tools Shopping Survey* (TNS Global) where 8 in 10 said they will buy new tools this year. Ranking Father's Day as the best time to find tool deals (Black Friday was second), 1 in 10 will buy tools as Father's Day gifts this year, ahead of those gifting apparel (9%) and electronics (8%). Lawn and garden tools (24%) repeat as most wanted, as Craftsman retains the title for most or tool brand (37%) and almost half surveyed will buy new tools at Home Depot this year (48%).

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The survey also reports that 90% of those that buy tools will spend up to $250. Home improvement spending is expected to increase by 5.8%, 73% of homeowners in 2Q 2015 reported planning one or more projects in the next three months, averaging +4 projects per this group of homeowners (Home Improvement Research Institute). "While the holidays offer great deals on select tools, June sales feature deals on a wider variety of both tools, and the materials homeowners need to get those DIY projects started," stated Brent Shelton, FatWallet Shopping Expert. "Whether shopping for Father's Day gifts, or personal needs, June is hands down the best time of year to budget for new power tools, tool storage, paint, building materials and lawn and garden equipment."

Key Results from Tools Shopping Survey:

• 80% purchase tools at least once this year, 4% more than once (up 7.5% from 2014), while 22% buy tools 3 or more times a year, yet 20% said they "never" buy tools. Additionally, 20% said they would only stop buying tools "if they ran out of money", while 33% have too many tools and 26% say they have tools they've never used.
• Father's Day Sales were voted as the best time to find deals on tools (30%), followed by Black Friday (28%), Spring Sales (21%), December Holiday (15%) and Cyber Monday (6%). One in ten will purchase tools as Father's Day gifts, followed by apparel (9%) and electronics/computers (6%), while greeting cards (20%) and dinner/events (14%) will be slightly more popular gifts for dad this year.
• The tools shoppers want most are lawn and garden tools (24%), cordless power tool kits (17%), hand tools (15%), power drills (14%), tool boxes/storage (14%) and automotive (10%). Quality and durability remain the most important feature for tool buyers (60%), followed by battery life (15%), power/torque (11%) and weight/size (9%).
• Shoppers said they buy most of their tools at Home Depot (48%) and Lowe's (40%), then Sears (29%), then Ace Hardware (13%) and Menard's (8%). Tool shoppers also buy at department stores like Walmart, Target and Kohl's (16%) and online stores like Amazon, Ebay and Overstock (10%). Top tool brands are Craftsman (37%), Black & Decker (25%), DeWalt (23%) and Milwaukee (5%).

About FatWallet: The one-stop shopping resource for millions of smart consumers, FatWallet.com publishes thousands of current store discounts and coupon codes that stack with Cash Back rewards from 1,700 online retailers, including Kohl's, Amazon, Walmart, and Ebay. The much celebrated FatWallet forums represent the pulse of an evolving online marketplace where smart consumers gather to share and learn. The new FatWallet Express is the "easy button" for online shoppers to assure cash back on every purchase, and FatWallet Deal Hunter app helps mobile shoppers compare thousands of current deals on-the-go.

*The national survey conducted online by TNS on behalf of FatWallet.com in March 2014 was fielded among 1,000 adults ages 18 or older. Contact Brent Shelton ([email protected]) for additional survey data, SKYPE insights and broadcast quality A/V soundbites.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/consumers-rank-fathers-day-sales-best-for-tools-purchases-300095025.html

SOURCE FatWallet

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