There are lots of mugs that say “#1 Dad.”
Father’s Day spending this year is expected to reach $22.4 billion, the second highest after last year’s record $22.9 billion. According to the National Retail Federation.
The retail trade group’s survey found that half of consumers bought gifts for their fathers or stepfathers, while the other half shared presents with husbands, sons, brothers, friends and grandfathers.
The survey of 8,580 consumers conducted in May found that average spending on gifts and celebrations is expected to reach $189.81.
Greeting cards remain the most popular gift for dads, with 58% of shoppers planning to buy one, followed by clothing, travel items, gift cards and personal care items.
More than a quarter of Father’s Day shoppers plan to give “experience gifts” such as tickets to sporting events or concerts, down slightly from last year.
“Spending in these gift categories is roughly in line with last year’s record numbers but still significantly exceeds pre-pandemic spending,” said Phil List, executive vice president of strategy at Prosper Insights & Analytics, which collaborated on the study.
But the numbers for Father’s Day are: The money consumers spend on mothers.
This Mother’s Day, shoppers spent a staggering $33.5 billion pleasing the ladies in their lives.
