NRF: Father’s Day spending to approach $13 billion

Washington, D.C. -- Father’s Day may not be the most lucrative consumer holiday of the year for retailers. However, according to the new National Retail Federation (NRF) 2015 Father’s Day Spending Survey, spending on Father’s Day is expected to reach $12.7 billion. The survey, conducted by Prosper Insights & Analytics, indicates the average person will spend $115.57 on gifts, nearly even with $113.80 in 2014.



Three-quarters (75%) of Americans said they plan to celebrate Father’s Day. Forty percent will purchase apparel items such as a new dress shirt or necktie, and will spend a total $1.7 billion overall. Another 43% will opt for experience gifts, such as tickets to a ballgame or a special meal with the family, spending a total of $2.6 billion.



The survey also found that 20% of shoppers will pick out new gadgets such as a tablet or smartphone, totaling $1.6 billion. Additionally, 40% will purchase a gift card, spending a total of $1.8 billion. Six-in-10 (62%) consumers will purchase a greeting card and will spend more than $777 million overall.



Consumers will also spend on home improvement or gardening supplies ($710 million), new tools or appliances ($668 million), personal care items ($684 million), sporting goods or leisure items ($665 million) and books or CDs ($538 million).



Popular Father’s Day shopping destinations include department stores (36%), online (29%) and discount stores (25%).



In addition, about one-quarter of smart phone owners (24.%) will use their devices to research gifts and compare prices, and nearly three-in-10 (29%) tablet users will turn on their devices to do the same; More than one-in-10 (13%) smartphone owners will actually purchase gifts via their smartphones.