John Furner President and CEO | Official website
Father’s Day spending is expected to reach $22.4 billion this year, according to the annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. This figure marks the second highest in the survey’s history, closely following last year's record of $22.9 billion.
“Father’s Day is an opportunity to celebrate our fathers and paternal role models who have played such a positive role in our lives,” NRF President and CEO Matthew Shay stated. “There is no doubt that retailers have the perfect gift consumers want to purchase for the men they wish to recognize on this special day.”
The survey revealed that half of consumers plan to purchase a gift for a father or stepfather, followed by those buying gifts for a husband (26%), son (10%), brother (8%), friend (8%) or grandfather (6%). Approximately three-quarters of consumers intend to celebrate Father’s Day this June, with an average expenditure of $189.81 on gifts and celebrations, slightly below last year’s record of $196.23. Consumers aged 25-34 are projected to be the highest spenders at an average of $275.67.
Greeting cards remain the most popular Father’s Day gifts, with 58% of shoppers planning to buy one, followed by clothing (54%), special outings (52%), gift cards (48%) and personal care items (31%).
“While spending on these gift categories is mostly in line with last year’s record numbers, they are still significantly above pre-pandemic spending,” noted Prosper Executive Vice President of Strategy Phil Rist. “This is especially true in clothing, personal care, tools and appliances, electronics, home improvement items, gift cards and special outings, which have all increased by half a billion or more since 2019.”
Over a quarter (27%) of Father’s Day shoppers plan to give a gift of experience such as tickets to sporting events or concerts—down slightly from 29% last year. Additionally, 42% of consumers are interested in gifting product subscription boxes—up from 34% in 2019 when NRF first included this question.
When selecting Father's Day gifts, nearly half of shoppers prioritize finding something unique or different (47%), while others focus on creating a special memory through their gifts (39%).
Online shopping remains the most popular method for purchasing Father’s Day gifts at 42%, consistent with last year's figure of 43%. Other common shopping destinations include department stores (38%), discount stores (24%), specialty stores (22%) and local/small businesses (19%).
The NRF continues its role as a leading authority providing data on consumer behavior and spending during key periods such as holidays throughout the year.
The survey was conducted among 8,580 consumers between May 1-8 with a margin of error of plus or minus 1.1 percentage points.
About NRF:
The National Retail Federation passionately advocates for people, brands, policies and ideas that help retail succeed. From its headquarters in Washington D.C., NRF empowers an industry crucial to the economy—a sector supporting over one in four U.S jobs and contributing $5.3 trillion annually to GDP.
About Prosper Insights & Analytics:
Prosper Insights & Analytics provides global authoritative market information on U.S. and China consumers via curated insights and analytics aimed at accurately predicting consumer behavior across various industries including financial services and marketing technology.
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