(Newswire.net — May 31, 2015) — Annual Tools Shopping Survey* from FatWallet.com reports consumers rank Father’s Day sales as the best time of year to buy tool deals, ahead of Black Friday deals, Cyber Monday deals and other major sales events. Also, tools rank as third most popular Father’s Day gift from 10% of those surveyed, just behind getting cards at 20% and springing for dinner/events with dad at 14%.
In total, 80% of American adults buy new tools annually, and nearly half of those buy tools multiple times throughout each year. When it comes to how much money they spend on tools, 23% spend between $100 – $249 and 10% spend $250 or more each year on tools. Almost half (48%) will buy from Home Depot tool deals, while 40% said they shop for tools at Lowe’s. Although only 19% buy their tools from Sears, 37% said Craftsman tools are their choice for best tool brand, while 25% said Black & Decker and 23% like DeWalt.
“June is typically the time of year when retailers ramp up discounts for homeowners looking for tools and materials the need to finish up DIY projects before the summer heats up,” stated Brent Shelton, Online Shopping Expert. “The competition for shoppers is high this time of year, so it’s not surprising consumers rank Father’s Day sales as the best time to save money on tools.” Another study by Statista predicts that power tools demand in the U.S. will be sized at $4.6 billion (up from $3.5 billion in 2011). For the second year in a row, FatWallet’s survey reveals lawn and garden tools are most coveted, followed by cordless combination power tool kits, hand tools, power drills and storage.
2015 Tools Shopping Survey results include:
How often we buy tools (for personal use)?
- Once a year or less often – 43%
- 2 times a year – 15%
- 3-4 times a year – 17%
- Monthly or more – 5%
- Never – 20%
Top Father’s Day gifts?
- Greeting Cards (only) – 20%
- Dinner or Event – 14%
- Tools – 10%
- Apparel – 9%
- Electronics or Computers – 6%
- Sporting Goods – 5% S
- Media – 5%
Best time to find deals on tools?
- Father’s Day – 30%
- Black Friday Sale – 28%
- Spring Sales – 21%
- December Holiday Sales – 15%
- Cyber Monday – 6%
Wow much we’ll spend on tools this year?
- Less than $100 – 67%
- $100 to $249 – 23%
- $250 to $499 – 7%
- $500 or more – 3%
Where we buy tools most often?
- Home Depot – 48%
- Lowe’s – 40%
- Sears – 28%
- Ace Hardware – 13%
- Menard’s – 8%
- Department Store (Walmart, Target, Kohl’s, etc) – 16%
- Online Store (Amazon, Ebay, Overstock, etc.) – 10%
Most desired brand of tools?
- Craftsman – 37%
- Black & Decker – 25%
- DeWalt- 23%
- Milwaukee – 5%
- Makita – 4%
- Bosch – 4%
- Porter Cable – 2%
Tools we want most this year?
- Lawn & Garden Tools – 24%
- Combination Power Tool Kit (cordless) – 17%
- Hand Tools – 15%
- Power Drills – 14%
- Tool Boxes – 14%
- Automotive Tools – 10%
- Circular Saws or Miter Saws – 8%
Most important power tools feature?
- Quality/Durability – 60%
- Battery Life – 15%
- Power/Torque – 11%
- Weight/Size – 9%
- Length of Warranty – 5%
About: FatWallet works closely with more than 1600 retailers to publish online coupons, discounts and deals from current sales that stack with cash back rewards. Members have earned more than $55 million in cash back on a wide variety of products and services. Savvy tool shoppers will be sure to add increased cash back from upcoming June sales and Father’s Day offers to add savings and improve their DIY projects budget. Contact bshelton @ fatwallet dot com for interviews and insights on monthly shopping trends and current retail insider information. *The national survey conducted online by TNS on behalf of FatWallet.com in MAY 2015 was fielded among 1,000 adults ages 18 or older.
Photo credits: Sergey Ryzhov (Dollarphoclub)