Father’s Day spending is expected to reach a record $24 billion this year, according to the annual survey released by the National Retail Federation (NRF) and Prosper Insights & Analytics. The figure is up from last year’s $22.4 billion and exceeds the previous record of $22.9 billion in 2023.
“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,” NRF Vice President of Industry and Consumer Insights Katherine Cullen said. “As consumers look to recognize the father figures in their lives, retailers are prepared with gift ideas, special deals, and convenient shopping options to help customers find the right gifts.”
Nearly half of consumers (48%) plan to purchase a gift for a father or stepfather, followed by those purchasing gifts for a husband (25%), son (12%), brother (9%), friend (8%), or grandfather (6%).
Similar to recent years, more than three-quarters of consumers (76%) plan to celebrate Father’s Day. Consumers are planning to spend $199.38 on average per person, or nearly $10 more than last year’s $189.81 average. Those between the ages of 35-44 years old tend to spend the most on the holiday—$278.90 on average. These shoppers are also spending significantly more compared with last year, increasing their budgets by $27 on average.
When looking for Father’s Day gifts, shoppers said it is most important they find a gift that is unique or different (46%) or creates a special memory (37%).
As in recent years, 58% of Father’s Day shoppers plan to purchase a greeting card, followed by clothing (55%), a special outing (53%), and gift cards (50%).
“As consumers prioritize Father’s Day gifts that are unique or create special memories, categories such as special outings and personal care items have seen an increase in popularity this year,” Prosper Executive Vice President of Strategy Phil Rist said. “A special outing offers an opportunity to create new memories and celebrate together, while a personal care item allows dad to feel pampered.”
Subscription boxes and gifts of experience continue to rise in popularity. This year, 43% of shoppers plan to gift a subscription box, up from 34% when NRF first asked the question in 2019. Additionally, 30% of shoppers plan to give a gift of experience, up from 23% in 2019.
In line with last year, online remains the most popular shopping destination at 41%, followed by department stores (35%), discount stores (23%), specialty stores (22%), and local/small businesses (19%).
The survey of 8,225 consumers was conducted May 1-7 and has a margin of error of plus or minus 1.1 percentage points.
