Americans are expected to spend more than ever on gifts for this year’s Father’s Day (Sunday, June 18, 2017). The biggest share of purchasing will be going to special outings like a ballgame, concert or dinner, according to the National Retail Federation’s annual survey conducted by Prosper Insight & Analytics. Father’s Day shoppers are expected to spend an average $134.75 for the holiday, up from last year’s $125.92. With 77 percent of consumers surveyed celebrating, total spending is expected to reach $15.5 billion.
2017 marks a record year in Father’s Day spending
Total Father’s Day spending this year will be $15.5 billion, the highest amount in the survey’s 15-year history, topping last year’s previous record of $14.3 billion.
What are Dads receiving this year?
(Spoiler alert, Dads. No looking.) The survey found 27 percent of dads would love to receive a “gift of experience” for Father’s Day — and 25 percent of shoppers plan to grant that wish with gifts like tickets to a concert or a sporting event. When dinners, brunches and other types of “fun activity/experience” are included, consumers plan to spend $3.3 billion on special outings, which will be given by 48 percent of those surveyed.
“With shoppers planning to be more generous to dad this year, the personal care category will be one to watch,” Prosper Principal Analyst Pam Goodfellow said. “Planned spending on items like cologne, aftershave and razors rose nearly 20 percent year-over-year, outpacing growth in every other gift category for Father’s Day.”
Where are people purchasing Dad’s Day gifts this year?
When searching for the perfect gift, the survey indicates that discount and department stores will be the most likely place customers will purchase their gifts for Dad, with ecommerce coming in third. While the survey says that only 18.7 percent of customers say they will purchase gifts at “local or small businesses,” the survey also breaks out two categories that likely fall into the small/local bucket: specialty and and special clothing stores.
Charts | NRA.org
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