Father’s Day spending is projected to reach a new high of $24 billion this year, according to the National Retail Federation’s annual survey conducted with Prosper Insights & Analytics. This marks an increase from $22.4 billion last year and reflects growing consumer interest in celebrating the holiday.
Roughly 76 percent of U.S. adults plan to mark the occasion, with an average per person spend of $199.38, up nearly $10 from 2023. Consumers aged 35 to 44 are expected to spend the most, averaging nearly $279.
Top gifts include greeting cards at 58 percent, clothing at 55 percent, special outings at 53 percent, and gift cards at 50 percent. There is a continued rise in interest for unique or memory-making gifts, such as experience-based presents and subscription boxes. This year, 43 percent of shoppers plan to gift a subscription box, up from 34 percent in 2019.
Online shopping leads as the preferred destination at 41 percent, followed by department and discount stores. Local and small businesses remain an important part of the retail mix, with 19 percent of shoppers planning to buy from them.
Retailers are encouraged to prepare for increased demand with personalized gift options, promotions, and flexible shopping experiences.
