$12.7B to be spent on dads for Father's Day

Posted at 1:23 PM, Jun 08, 2015
and last updated 2015-06-09 07:57:42-04

People are spending a whole lot of cash on Dad this Father’s Day, but it’s not more than they spent on Mom.

The National Retail Federation reported the average person will spend $115.57 for Father’s Day, and 75.4 percent of Americans expected to celebrate the holiday.

The spending includes gifts for a person’s father, stepfather, husband or son.

Mother’s Day spending was at an average of $172.63 per consumer, according to the NRF.

“After a less than stellar first half of the year, retailers are ready to welcome the warm weather and the millions of shoppers that come along with it and kick off the summer spending season just in time for Father’s Day,” NRF President and CEO Matthew Shay said in a statement. “Spending on grilling and patio necessities, pool gear, sporting goods, apparel and other gift and seasonal merchandise could be the positive stepping stone retailers need heading into the second half of the year.”

All told, spending on Father’s Day is expected to reach $12.7 billion.

The top categories include experience gifts such as stadium tickets or dinners ($2.6 billion), clothes ($1.7 billion) or new gadgets such as an iPhone ($1.6 billion). Others will let their fathers pick a gift that could be any of the above. About $1.8 billion will go toward gift cards.

The study was conducted for the National Retail Federation by Prosper Insights & Analytics. The survey polled 6,087 people and had a margin of error of plus or minus 1.2 percent.

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