Fresh off a predicted record spend for Mother’s Day (and for graduation), the NRF is out with another rosy projection, this time for Father’s Day. Based on a survey of more than 7,300 adults, the NRF expects that total retail spending surrounding Father’s Day will reach $15.5 billion, an 8% climb from the previous high of $14.3 billion, set last year.
The $15.5 billion forecast marks the highest figure yet in the survey’s 15-year history, per the NRF, as shoppers plan to each spend roughly $135 on dads (up from $126 last year).
How does that compare to projected retail spending surrounding Mother’s Day? It’s about $8 billion less, or about one-third less. Mother’s Day shoppers, for their part, expected to spend about $50 more each than Father’s Day shoppers ($186 vs. $135).
The most common purchase for dads this year? Greeting cards, planned by 64% of shoppers. Next up are special outings such as dinner or brunch (48%), clothing (46%) and gift certificates / gift cards (43%).
In terms of total spend, special outings top the list with a projected outlay of $3.3 billion, followed by gift cards ($2.2 billion), clothing ($2.2 billion) and consumer electronics ($1.8 billion).
Department stores will be the most popular shopping destination (40%), per the report, ahead of online shopping (34%), discount stores (26%) and specialty stores (24%).
About the Data: The results are based on a survey of 7,335 US consumers conducted May 2-9, 2017.
