NRF: Father’s Day spending to hit $20.1 billion

U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, a record high, according to the National Retail Federation (NRF) annual survey conducted by Prosper Insight & Analytics. Total spending for the holiday will surpass last year’s record figure of $17 billion. The survey of 7,971 consumers was conducted May 3-11 and has a margin of error of plus or minus 1.1 percentage points

“Americans are looking forward to celebrating their fathers, husbands and sons this Father’s Day,” said Matthew Shay, NRF President and CEO. “With our nation now making significant strides toward recovery and reopening, retailers are prepared to help customers safely find items they want and need to make this year’s holiday celebration extra meaningful.”

The number of Americans (75 percent) who plan to celebrate the fathers, husbands, and other paternal figures in their life this Father’s Day is consistent with previous years. Of those celebrating, half (50 percent) plan to buy gifts for their own dad, a quarter (26 percent) plan to buy for a husband and 1 in 10 (11 percent) plan to buy for a son.

Consumers plan to spend, however, a little more to treat their dads this year. Survey respondents indicated they plan to spend an average of $174 on Father’s Day items, or $26 more than last year and a record high for the survey. About half (47 percent) of the increase comes from spending more on special outings, clothing, and consumer electronics.

Those ages 35-44 will be this year’s biggest holiday spenders. They plan to spend an average of $259 on Father’s Day gifts, which is $49 more than last year. Dad’s loved ones will look for gifts at a variety of locations, including online (40 percent), department stores (33 percent) and specialty stores (22 percent). While those shopping online, whether through their smartphone or computer, to purchase gifts is down slightly from 2020, it remains above pre-pandemic figures.

The top gifts shoppers plan to purchase for Father’s Day are greeting cards (59 percent), clothing (49 percent), a special outing such as dinner or brunch (46 percent), gift cards (45 percent), and personal care items (28 percent). The number of consumers planning a special outing is back up to pre-pandemic levels.