Record $24 Billion Spending Expected for Father's Day

Father's Day spending is projected to hit a record $24 billion this year, marking a 7% increase from last year's $22.4 billion, according to the National Retail Federation (NRF). This rise surpasses the previous record of $22.9 billion set in 2023. The holiday, which will be celebrated on Sunday (June 15), sees three out of every four people planning to participate in some way.

The average spending per person is expected to be $199.38, nearly $10 more than last year. Those aged 35 to 44 are anticipated to be the biggest spenders, averaging $278.90, which is $27 more than the previous year.

NRF Vice President Katherine Cullen stated, "Americans are embracing meaningful traditions and holidays, and this Father's Day, spending on gifts and other holiday items is expected to reach record levels." Consumers are looking for unique gifts or experiences, with 46% seeking something different and 37% aiming to create special memories.

Popular gift choices include greeting cards, clothing, special outings, and gift cards. Electronics and personal care items are also seeing increased interest. Subscription boxes and experiential gifts continue to gain popularity, with 43% of shoppers planning to give a subscription box, up from 34% in 2019.

Online shopping remains the top choice for consumers at 41%, followed by department stores and discount stores. The NRF survey, conducted with 8,225 consumers, highlights the growing trend of celebrating Father's Day with significant spending and thoughtful gift-giving.