Father’s Day Spending To Rise

Consumers say they will spend more than ever on Father’s Day this year, according to the National Retail Federation’s annual survey conducted by Prosper Insight and Analytics. Consumers are expected to spend an average $125.92 for the holiday, up from last year’s $115.57. Total spending is expected to reach $14.3 billion, the highest in the survey’s 13-year history—but still below this year’s Mother’s Day total of $21.4 billion.
 
According to the survey, consumers plan to spend $3.1 billion on special outings such as dinner, brunch or other types of a “fun activity/experience” (given by 47%). Clothing (given by 43%) and gift cards (given by 41%) came in a hair under $2 billion each while consumer electronics (given by 20%) follow at $1.7 billion.
 
Other popular gifts include personal care, automotive accessories, books, music, home improvement/gardening supplies and sporting goods, according to the survey data.
 
In a nod to the millennial influence, the survey found 22% of shoppers will opt for a “gift of experience” such as tickets to a concert or a sporting event.  In fact, wwo in five Millennials are planning to give an experience, significantly higher than older generations.
 
When searching for the perfect gift, 38% of consumers will head to department stores and 32% percent will shop online