By Karen Axelton
Father’s Day is coming up (it’s June 18, for those of you who aren’t aware). What will Americans be doing—or, more importantly to small business, buying and spending—to mark the day?
According to the National Retail Federation’s Consumer Intentions and Actions Father’s Day survey, conducted by BIGresearch, Americans will shell out an average of $106.49 on Dad, up from $94.32 last year and the most in the survey’s eight-year history—surpassing prerecession spending levels.
As dad gets more recognition, the gap between Mother’s Day spending (average of $140.73) and Father’s Day spending has narrowed substantially. Total Father’s Day spending is expected to reach $11.1 billion.
“Spending on Dad has taken a backseat for the past few years, but some kids and wives are planning to make up for lost time this Father’s Day,” said NRF President and CEO Matthew Shay. “Shoppers seem to be more excited when it comes to gift giving, an encouraging sign for retailers – and dads – everywhere.”
More people will be taking dad on a special outing this year, spending $2.1 billion on activities like golfing, eating out or heading to the movies. “Dad has always been content spending Father’s Day grilling in the backyard or shooting hoops in the driveway, but this year kids have bigger plans for him,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch.
Dads will also be receiving more gift cards ($1.4 billion), sporting goods ($653 million) and automotive accessories ($593 million). Traditional Father’s Day gifts like electronics ($1.3 billion), clothing ($1.4 billion), home improvement or gardening tools and appliances ($1.4 billion) and books or CDs ($598 million) will also remain popular.
And Dad’s not the only one getting gifted. In addition to buying gifts for their father or stepfather this year (50.3%), survey respondents also plan to treat their husband (26.1%), son (8.0%), grandfather (4.7%), brother (5.8%) or even friends (5.3%) to a gift.
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