This year might have brought inflation to the forefront of consumers’ minds – with an associated change in spending habits – but that doesn’t seem to have dented spending plans for Father’s Day. According to the latest retail spending forecast from the NRF, consumers will spend $20 billion on the event this year, almost equal to last year’s record $20.1 billion.
Some 76% of American adults plan to celebrate Father’s Day this year (up a point from 75% last year), with these celebrants estimating they’ll spend an average of $171.79 each — down slightly from $174.10 last year.
For comparison’s sake, earlier this year the NRF forecast that spending on Mother’s Day this year would reach a new high. Indeed, Mother’s Day remains a bigger retail event than Father’s Day. Consider that:
- Total Mother’s Day spending this year was forecast to be almost $12 billion (or 58.5%) higher than this new prediction surrounding Father’s Day;
- More adults planned to celebrate Mother’s Day (84%) than expect to celebrate Father’s Day (76%); and
- Celebrants planned to spend about $74 more per person for Mother’s Day ($246) than they plan to spend on Father’s Day ($172).
Unlike last year, the age group that is set to spend the most on Father’s Day this year are 25-34-olds. This group expects to spend an average of $249 per person. However, they are not the age group with the largest percentage celebrating. That distinction goes by a hair to 35-44-year-olds, with 89% expecting to celebrate.
Greeting cards continue to be the most popular Father’s Day purchase, planned by 58% of shoppers. Next up is clothing (50%), followed by special outings such as dinner, brunch or another fun activity (48%) and gift cards (46%).
Although less popular, some other categories are also in the purchase mix, include personal care (28%), electronics (24%) and tools or appliances (23%).
Aside from these gift categories, one-quarter (25%) of celebrants say they are planning to give the “gift of experience” for Father’s Day, while close to 4 in 10 (37%) have an interest in gifting a subscription box for Father’s Day.
About the Data: The results are based on a survey of 8,297 US adults (18+) conducted from May 2-9, 2022. The survey has a margin of error of plus or minus 1.1% points.