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

A new NRF survey reports that Father's Day spending this year is expected to reach $12.7 billion.

The survey, conducted for the National Retail Federation 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.