Dad is still dear.
U.S. consumers will collectively spend a record-high $22.9 billion to celebrate Father’s Day this year, according to a National Retail Federation survey— up from the $20 billion they dropped last year,
“Father’s Day remains a momentous occasion for Americans to honor the important men in their lives,” said Matthew Shay, CEO of the retail group.
Three-quarters of consumers plan to celebrate Father’s Day this year, and they’ll individually spend $196.23 on average.
Half of those celebrating the holiday plan to buy for a father or stepfather, followed by a husband (27%), son (11%), brother (9%), friend (8%) or grandfather (7%).
As in previous years, the most popular Father’s Day gifts are greeting cards, purchased by 61%. Other top gifts include clothing (55%), a special outing such as dinner or brunch (52%), gift cards (48%) and personal care items (32%).
The retail survey of 8,414 U.S. consumers was conducted May 1-8 and released June 1.
The White House, meanwhile, has not overlooked Father’s Day.
“On Father’s Day, we celebrate the dads, stepdads, grandfathers, and father figures in our lives, who shape who we are and set an example for the kind of people we aspire to be. They sacrifice so we can succeed, they mentor us so we can reach our potential, and they believe in us so we can learn to believe in ourselves,” noted a White House proclamation for the day released on Friday.
“Across America, fathers work tirelessly every day to build a better future for their families, devoting their lives to ensuring that their children are safe, supported, and empowered to pursue their dreams. Today, we honor these men who have showered us with guidance, encouragement, and unconditional love,” the proclamation said.
