Fathers can expect a windfall of gifts this year as shoppers spend some of their pandemic dollars on their dads.
In its annual survey, the National Retail Federation said U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, a record high. Last year, total spending was $17 billion, which was a record as well.
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“Americans are looking forward to celebrating their fathers, husbands and sons this Father’s Day,” said Matthew Shay, president and chief executive officer of NRF. “With our nation now making significant strides toward recovery and reopening, retailers are prepared to help customers safely find items they want and need to make this year’s holiday celebration extra meaningful.”
Some 75 percent of Americans plan to celebrate Father’s Day this year, a number similar to past years, and half of those plan to buy gifts for their dads, 25 percent for a husband and 11 percent for a son. Consumers are seen spending the most on their fathers — an average of $174, or $26 more than last year. Some 47 percent of the increase comes from spending more on special outings, apparel and consumer electronics. Those aged 35 to 44 are expected to spend the most this year, an average of $259, which is $49 more than last year.
The top gifts shoppers said they plan to purchase for Father’s Day are greeting cards (59 percent), apparel (49 percent), a special outing such as dinner or brunch (46 percent), gift cards (45 percent) and personal care items (28 percent). The number of consumers planning a special outing is back up to pre-pandemic levels, NRF said.
“Consumers are showing they are comfortable with pre-pandemic behaviors and activities, particularly as we head into the summer season,” said Phil Rist, vice president of strategy for Prosper Insight & Analytics, which conducted the survey for NRF. “Many are planning to take Dad out for a special meal or experience this Father’s Day, which wasn’t an option last year during the shutdowns.”
But the impact of the pandemic remains with 40 percent of shoppers say they expect to shop online, 33 percent at department stores and 22 percent at specialty stores.
The survey of 7,971 consumers was conducted May 3 to 11 and has a margin of error of plus- or minus-1.1 percentage points. Father’s Day falls on June 20 this year.