Father’s Day Spending to Reach Record $24 Billion

WASHINGTON – Father’s Day spending is expected to reach a record $24 billion this year, according to the annual survey released today by the National Retail Federation 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%).

As the leading authority and voice for the retail industry, NRF provides data on consumer behavior and spending for key periods such as holidays throughout the year.

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.

About NRF
The National Retail Federation passionately advocates for the people, brands, policies and ideas that help retail succeed. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $5.3 trillion to annual GDP and supporting more than one in four U.S. jobs — 55 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. nrf.com

About Prosper Insights & Analytics
Prosper Insights & Analytics is a global leader in consumer intent data serving the financial services, marketing technology, and retail industries. We provide global authoritative market information on U.S. and China consumers via curated insights and analytics. By integrating a variety of data including economic, behavioral and attitudinal data, Prosper helps companies accurately predict consumers’ future behavior to help identify market behaviors, optimize marketing efforts, and improve the effectiveness of demand generation campaigns. https://prosperinsights.com/