Father’s Day Spending Expected to Reach $15.3 Billion

Father’s Day spending is expected to reach $15.3 billion this year according to a study by the National Retail Federation, which found 77% of shoppers will spend an average of $133 each on dear old dad.

“We are pleased to see consumer confidence continue to rise, leading to another near-record holiday spend on Father’s Day,” said NRF President and CEO Matthew Shay.

The expected spending would be second only to last year’s $15.5 billion, the highest in the 15-year history of the survey at an average of $135 a person. Shoppers aged 24-34 will be the biggest spenders this year, according to the NRF, at an average of $188 per person.

The largest category of spending this year for Father’s Day will be for a “special outing” gift, such as a concert, sporting event or dinner, the NRF reported, with 47% of respondents laying out an estimated $3.2 billion.

The survey found that 43% of consumers plan to buy their father clothing (a total of $2.2 billion), 42% will buy gift cards ($2.1 billion) and 20% will purchase consumer electronics ($1.8 billion). In addition, 16% will buy home improvement supplies ($878 million), 19% will buy personal care products ($862 million), 63% will buy greeting cards ($844 million) and 16% will buy tools or appliances ($830 million).

In other categories, 16% of respondents said they’d get their dad a sports or leisure item ($768 million), 16% plan to buy him an automotive accessory ($686 million) and 22% will pick up a book or music gift  ($628 million).

The NRF said 39% of shoppers plan to hit a department store to buy their gift, while 34% will shop online, 25% will purchase in a discount store and 24% will visit a specialty store.

Nearly half of smartphone users plan to user their mobile device to make purchase decisions while shopping for Father’s Day, according to the NRF.