Americans are expected to set a spending record this year for Father’s Day, the National Retail Federation reports.
Total spending for the holiday has been estimated to reach $16 billion, up from $15.3 billion last year.
NRF reports that Father’s Day spending has grown 70%, about $6.6 billion, since 2009. This year, it surveyed 7,591 consumers from May 1 through 9. The survey has a margin of error of 1.2 percentage points.
The most popular gifts mentioned, in order, were greeting cards, a special outing, clothing and gift cards. Read more.