US: Father’s Day spending to total $22.4 Billion, survey shows

Father ’s Day spending is expect to reach $ 22.4 billion this year , according to the yearly resume released today by the National Retail Federation and Prosper Insights & Analytics . This is the 2nd highest public figure in the survey ’s history and on equivalence with last year ’s record of $ 22.9 billion .

" Father ’s Day is an opportunity to celebrate our Father-God and paternal role models who have played such a positive role in our lives , " NRF President and CEO Matthew Shay said . " There is no dubiousness that retailer have the perfect gift consumers want to purchase for the men they wish to accredit on this limited twenty-four hours . "

Half of consumers contrive to buy a gift for a Father-God or stepfather , followed by those purchasing gifts for a husband ( 26 % ) , Word ( 10 % ) , comrade ( 8 % ) , friend ( 8 % ) or grandfather ( 6 % ) .

Similar to 2023 , three - quarters of consumer plan to celebrate Father ’s Day this June . On average , those shit for Father ’s Day plan to drop $ 189.81 on gifts and celebrations , just shy of last year ’s phonograph recording of $ 196.23 . consumer years 25 - 34 are the big spend-all this year , at an average of $ 275.67 .

Greeting cards remain the most popular Father ’s Day gifts , with 58 % of shopper contrive to purchase one , followed by article of clothing ( 54 % ) , a exceptional outing ( 52 % ) , giving cards ( 48 % ) and personal care item ( 31 % ) .

" While spending on these endowment categories is mostly in line with last twelvemonth ’s phonograph record number , they are still significantly above pre - pandemic spending , " Prosper Executive Vice President of Strategy Phil Rist said . " This is especially true in wear , personal care , tools and appliances , electronics , home betterment item , gift cards and special outings , which have all increased by half a billion or more since 2019 . "

Over a fourth part ( 27 % ) of Father ’s Day shoppers plan to give a gift of experience , such as tickets to a sporting event or concert , down more or less from 29 % last year .

Also , 42 % of consumer are interested in indue a product subscription box , up from 34 % in 2019 when NRF first started asking this question .

Those looking for Father ’s Day items say it ’s most important to notice a endowment that is unique or dissimilar ( 47 % ) when considering their purchases , while others prioritise a gift that create a special store ( 39%).Online continues to be the most pop shopping address for Father ’s Day gifts at 42 % , in line with 43 % last year . Other popular choices include section stores ( 38 % ) , discount stores ( 24 % ) , specialty storage ( 22 % ) and local / small businesses ( 19%).As the leading authority and spokesperson for the retail industry , NRF provide data on consumer behaviour and disbursal for cardinal periods such as holiday throughout the yr . The survey of 8,580 consumers was conducted May 1 - 8 and has a gross profit of error of plus or minus 1.1 portion points .

Source : nrf.com