CHICAGO, June 11 /PRNewswire/ -- In a national survey of shoppers General
Growth Properties, the country's second largest owner, developer and manager
of shopping malls, has found that more than one-third of them have a good idea
of what they're going to buy and how much they'll spend for Father's Day gifts
this year.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990208/CGM015 )
Of those surveyed, 39 percent of the shoppers are going to spend between
$26 and $50 on that perfect Father's Day gift. At a close second, 22 percent
are going to spend less than $25. Sixteen percent have set aside $51 to $75
for Dad, while eighteen percent plan to shell out more than $76. Five percent
are most likely going to give dad a hug and a kiss or a homemade gift.
Dads have been notoriously difficult to shop for, at least according to
their children. But the shoppers surveyed by General Growth Properties
weren't at a loss for gift ideas. One-third are buying dad clothes, shoes or
accessories, such as a tie or leather brief case. Twenty-five percent are
getting dad something for his 'castle'-like a power tool or something for the
kitchen. For the weekend warrior dad, 14 percent of the shoppers will buy
their Father's Day gift at a sporting goods or athletic shoe store. Rackets,
golf clubs and team jerseys are always popular.
Then there's the dad who wants to relax with a good book or CD--9 percent
of the shoppers are going the route of a book or music store. Sixteen percent
are going to find dad a unique Father's Day gift, possibly one that's
homemade. Jewelry and cards round out the top gifts.
General Growth Properties' Customer Research Management database consists
of more than 700,000 shoppers at General Growth's 160 malls in 39 states.
General Growth Properties is the country's second largest shopping center
owner, manager and developer. General Growth currently has ownership
interest in, or management responsibility for, a portfolio of 160 regional
shopping malls in 39 states. The company portfolio totals approximately
140-million square feet of retail space and includes over 16,000 retailers
nationwide. A publicly traded Real Estate Investment Trust (REIT), General
Growth Properties is listed on the New York Stock Exchange under the symbol
GGP. For more information on General Growth Properties and its portfolio of
malls, please visit the company web site at http://www.generalgrowth.com .
SOURCE General Growth Properties
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Related links:
http://www.generalgrowth.com
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Company News On-Call:
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CONTACT:
David Keating, Manager, Media and Consumer
Relations of General Growth Properties, +1-312-960-6325, or fax,
+1-312-960-5484
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