Spending To Reach $15.3 Billion On Father’s Day, Still Far Behind Mother Day

Retailers are looking to cash in big as a majority of Americans plan to celebrate Father’s Day this year spending a total of $15.3 billion on dear ole’ dad. The National Retail Federation and Prosper Insights & Analytics survey found the average household will spend about $133 in honor of Father’s Day, slightly less than $135 average spent last year.

Total spending is not expected to break the $15.5 billion spent in 2017, but it should be a near-record year led by Millennials between 25 and 34 who plan to dole out $188 on average for Father’s Day gifts. Father’s Day spending ranks slightly behind Valentine’s Day ($19.6 billion) and well behind Mother’s Day which rang up sales of $23.1 billion in May.

The survey found nearly 8 out 10 consumers will celebrate their fathers and other men this year on Sunday, June 17. Over half of those surveyed plan to buy for their fathers or stepfathers (53%) followed by husbands (27%) and sons (10%).   MORE

Designed by Reinhold Technology Solutions