Retailers expect to rake in $23B on Father’s Day

Father's day concept - present, tie on rustic wood background, top view

Dad’s big day is expected to be a boon for retailers across the country, according to a new survey from the National Retail Federation (NRF).

NRF asked 8,414 consumers about their Father’s Day plans last month and found that more than three-quarters of Americans plan to celebrate the holiday, spending an average of $196.23 each on gifts and experiences for the important men in their lives.

This year’s figure is $24.40 higher than last year and, while mom still reigns supreme, the overall Father’s Day is expected to hit an all-time high of $22.9 billion nationwide.

NRF also asked consumers about their shopping lists, finding that greeting cards were the most common pickup. More than 3 in 5 shoppers said they planned to get their dad a piece of bifold cardstock at the very least.

More than half of consumers said they planned to give their dad, granddad or father figure some clothes (hopefully not a tie he’ll begrudgingly wear) or take him on a special outing.

Nearly as many (48%) plan to pick up a gift card, a low-effort gift that won’t put a dent into how much dad spent on braces, college tuition and the time he had to wire over money with the express instruction he not tell mom.

The final category of significance: Personal care items. About a third of those surveyed said they would put something along the lines of a nice razor or cologne in their shopping cart.

NRF also asked consumers who, exactly, dad is. They made clear this question wasn’t an attempt to juice the paternity test market, but to figure out which men are causing consumers to flock to the register.

Half of those celebrating the holiday plan to buy for a father or stepfather, followed by a husband (27%), son (11%), brother (9%), friend (8%) or grandfather (7%).

Beyond the whos and whats, NRF’s state-level counterpart, the Florida Retail Federation (FRF), is urging shoppers to keep as much cash as possible in the Sunshine State economy.

“Florida shoppers are looking for special ways to honor the father figures in their lives this holiday,” said FRF President and CEO Scott Shalley. “There are plenty of gifts to choose from when you shop local, ‘Find it in Florida’ and support your local retailers.”