Father’s Day spending in the U.S. will exceed $20 billion, according to the National Retail Federation’s annual Father’s Day spending report.
The NRF expects 75% of American consumers to buy gifts. Of those who observe the father-focused holiday, 50% plan to purchase gifts for their biological fathers. Twenty-six percent plan to spend money on their husbands, and 11% plan to buy something for their sons.
The average amount of money that consumers expect to spend will be around $174 -- an increase of $26 from 2020. Americans are projected to spend several billion dollars more on Father’s Day this year; in 2020, total spending came out to around $17 billion.
The NRF said the biggest spenders this Father’s Day will be between the ages of 35 and 44. Consumers in this age group are expected to spend an average of $259 on the dads in their life.
The top gifts that respondents said they plan to purchase for Father's Day are greeting cards (59%), clothing (49%), a special outing such as dinner or brunch (46%), gift cards (45%), and personal care items (28%). The NRF noted that the number of consumers planning a special outing is back to pre-pandemic levels.
“Americans are looking forward to celebrating their fathers, husbands and sons this Father’s Day,” NRF President and CEO Matthew Shay said. “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.”
This year’s Father’s Day will be celebrated on June 20, the third Sunday of June.