Father’s Day spending to reach $15.3 billion

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WASHINGTON — Father’s Day spending is expected to total a near-record $15.3 billion this year, according to a study released Wednesday by the National Retail Federation and Prosper Insights & Analytics. According to the survey, 77% of Americans plan to celebrate Father’s Day, and they will spend an average of $133 per person.

“We are pleased to see consumer confidence continue to rise, leading to another near-record holiday spend on Father’s Day,” NRF President and CEO Matthew Shay said. “Leading into the second half of the year, Americans are looking forward to treating their dads and retailers will be prepared to offer a variety of gift options that will create new memories on this special day.”

Father's Day chartThe expected spending is down somewhat from last year’s $15.5 billion, which was the highest in the 15-year history of the survey at an average $135 per person.

This year, those between age 25 and 34 will be the biggest givers, with plans to spend an average $188 per person.

According to the survey, consumers plan to spend $2.2 billion on clothing (purchased by 43% of shoppers), $2.1 billion on gift cards (42%) and $1.8 billion on consumer electronics (20%). In addition, $878 million will be spent on home improvement supplies (bought by 16% of shoppers), $862 million on personal care products (19%), $844 million on greeting cards (63%) and $830 million on tools or appliances (16%). Another $798 million will be spent on sporting goods or leisure items (16%), $686 million on automotive accessories (16%) and $628 million on books or music (22%).

The survey found 47% of consumers plan to give a “special outing” gift, such as a concert, sporting event or dinner. This category represents the largest share of spending at $3.2 billion.

“Special outing gifts have steadily grown in popularity for Father’s Day since their lowest point in 2009,” said Prosper Insights executive vice president of strategy Phil Rist said. “These consumers, especially those between 18 and 24 years old, want to offer something to their dad’s that is unique, thoughtful and allows for quality time on dad’s special day.”

Among the consumers who will buy a gift in a retail store, 39% say they will head to a department store, 34% will shop online, 25% will visit a discount store and 24% will visit a specialty store.

The survey of 7,681 consumers was conducted from May 3 to May 10 and has a margin of error of plus or minus 1.1 percentage points.



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