Father’s Day Spending Drops This Year

Father’s Day spending this year is expected to drop to $15.3 billion, according to a study by the National Retail Federation (Washington, D.C.) and Prosper Insights & Analytics (Worthington, Ohio).

This is about an average of $133 per person for the 77 percent of Americans who plan to celebrate the holiday on June 17, according to Women’s Wear Daily. When split into categories, respondents planned to spend $2.2 billion on apparel, $2.1 billion on gift cards and $1.8 billion on consumer electronics. 

However, the largest share of spending is expected to be on experiential gifts like a sports event or dinner at a restaurant.

“Special outing gifts have steadily grown in popularity for Father’s Day since their lowest point in 2009,” said Phil Rist, Executive VP of Startegy for Prosper Insights. “These consumers, especially those between 18 and 24 years old, want to offer something to their dads that is unique, thoughtful and allows for quality time on dad’s special day.”

Last year, people reported expecting to spend $15.5 billion on Father’s Day gifts and shopping.