Father’s Day Shopping Expected to Reach $12.5 Billion This Year

Jun 04, 2014 9:27 AM  By

While Father’s Day is considered to be among the smallest of American holidays,  there is a sentimental importance attached to the occasion that is not forgotten among consumers. The National Retail Federation  released a survey reporting that total spending will reach $12.5 billion.

Among the major findings of the NRF survey:

  • On-the-go shoppers will use their smartphones and tablets to research and purchase gifts for dad this year.
  • Nearly one-quarter of smartphone users will research products and compare gift prices on  their smartphone, and 30.6% of tablet owners will do the same.  About 18.2% of shoppers will purchase products with their tablet on Father’s Day.
  • In fact,  28.4% of consumers are expected to shop online.  This number falls behind discount stores at 28.1%. The biggest group of consumers –  35.8% – are expected to head to the department store.
  • About 64.1% of people will simply say “thank you”  to dad with a greeting card, while 41.6% will treat dad to new apparel items such as neckties and sweaters, spending a total of $1.8 billion.
  • The average person is expected to spend $113.80 on neckties, tools, electronics and other gifts for Father’s Day.  This total is slightly down from $119.84 in 2013.
  • Consumers are expected to spend $1.6 billion on electronic gifts like smartphones and tablets and $1.8 billion on gift cards.
  • When it comes to tools and appliances,  consumers are expected to spend $663 million.  Sales of sporting goods or leisure items for Father’s Day are expected to reach $662 million;  home improvement items are expected to reach $645 million; personal care items are expected to reach $641 million; books and CDs are estimated to reach $555 million; and automotive accessories are expected to reach $520 million.