Tools are tops for Father's Day shopping

It seems as though Father's Day remains in place as a top occasion for tool gifting -- as well as finding competitive deals.

According to FatWallet.com's annual Tools Shopping Survey (conducted by TNS Global), Father's Day was ranked the best time find tool deals (followed by Black Friday).

Additionally, tools were a top gift choice for Father's Day (10%), followed by apparel (9%) and electronics (8%). At 20% and 14%, respectively, greeting cards and dinner events still pulled ahead.

Within this category, lawn and garden tools were tops (24%). This was followed by cordless power tools (17%), hand tools (15%), power drills (14%), tool boxes/storage (14%) and automotive (10%).

Brandwise, Craftsman took home the gold at 37%, far outpacing Black & Decker (25%), DeWalt (23%) and Milwaukee(5%).

Home Depot was king for retailers of choice (48%). Runnersup included Lowe's (40%), Sears (29%), Ace Hardware (13%) and Menard's (8%).

Furthermore, tool buyers have sizeable budgets, with 90% of those that buy tools saying that they can spend up to $250.

Out of the respondents surveyed, the vast majority plan on buying new tools this year in general -- 8 in 10. The survey also pointed to an increase of 5.8% in home improvement spending.

"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."