Faced with tough budgeting decisions, consumers have put Father's Day on the back burner for years, but this year Americans seem intent on showering dad with their appreciation.
According to NRF's Consumer Intentions and Actions Father's Day survey, conducted by BIGresearch, Americans will spend an average of $106.49 on dad, up from $94.32 last year and the most in the survey's eight-year history. As dad gets more recognition, the gap between Mother's Day spending and Father's Day spending has narrowed substantially.
Total Father's Day spending is expected to reach $11.1 billion, up 13% from billion last year and 18% from 2009. In terms of spending more, less or the same on Father's Day this year, there is essentially no gender gap.
More people will be taking dad on a special outing this year, spending $2.1 billion on activities like golfing, eating out or heading to the movies. Dads will also be receiving:
Gift cards ($1.4 billion)
Sporting goods ($653 million)
Automotive accessories ($593 million)
Electronics ($1.3 billion)
Clothing ($1.4 billion)
Home improvement or gardening tools and appliances ($1.4 billion)
Books or CDs ($598 million)
Source: Center for Media Research