Father’s Day spending to hit $20.1 billion this year
U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, surpassing last year’s record figure of $17 billion.
According to the National Retail Federation, 75 percent of Americans will make a gift purchase. Of those celebrating, 50 percent plan to buy gifts for their own dad, 26 percent plan to buy for a husband and 11 percent plan to buy for a son.
Gift buyers will be spending more than ever this year with survey respondents indicating they plan to spend an average of $174 on Father’s Day items, or $26 more than last year. Those ages 35-44 will be this year’s biggest holiday spenders, as they plan to spend an average of $259 on Father’s Day gifts, which is $49 more than last year.
Gift-wise, 59 percent of shoppers plan to purchase greeting cards, 49 percent clothing, 46 percent a special outing such as dinner or brunch, 45 percent gift cards and 28 percent personal care items.
Loved ones will look for gifts at a variety of locations, with 40 percent of respondents shopping online, 33 percent in department stores and 22 percent in specialty stores.
“Americans are looking forward to celebrating their fathers, husbands and sons this Father’s Day,” said NRF president and CEO Matthew Shay.
“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.”
Father's Day falls on the third Sunday of June, which in 2021 is June 20.
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