Father’s Day spending is expected to reach a record $24 billion this year, boosted in part by increased purchases on special outings and personal care items, according to the National Retail Federation’s latest annual forecast. That figure is up from last year’s $22.4 billion and exceeds the previous record of $22.9 billion set in 2023.
Also growing in popularity are subscription boxes (43% plan to give such items this, up 10% from 2019, the first year the NRF asked the question) and gifts of experience (30% this year, up from 23% in 2019). Some other notable findings:
- Online remains the most popular shopping destination, at 41%, followed by department stores (35%), discount stores (23%), specialty stores (22%) and local/small businesses (19%).
- Consumers are planning to spend just under $200 on average per person, about $10 more than last year. Those between the ages of 35-44 years old tend to spend the most on the holiday, at $278.90 on average.
- When looking for Father’s Day gifts, shoppers said it is most important they find a gift that is unique or different (46%) or creates a special memory (37%).
- As in recent years, 58% of Father’s Day shoppers plan to purchase a greeting card, followed by clothing (55%), a special outing (53%) and gift cards (50%).
The survey result, compiled in partnership with Prosper Insights & Analytics, drew responses from 8225 consumers between May 1-7, with a resulting margin of error of plus or minus 1.1 percentage points.
Click here for more from the survey.
