Father's Day spending expected to spike to $24 billion this year, report finds

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A new survey reveals that Father’s Day spending is expected to reach a record high this year.

The National Retail Federation (NRF) and Prosper Insights & Analytics surveyed more than 8,000 consumers last month. The findings were released on May 29.

Father’s Day spending expected to reach record sales

By the numbers:

The survey found that spending is expected to reach a record $24 billion this year.

The figure is up from last year’s $22.4 billion and exceeds the previous record of $22.9 billion in 2023.

The findings also showed that consumers are planning to spend nearly $200 on average per person ($199.38) 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.

What they're saying:

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 in a statement. "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."

FILE: Father's Day 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%), according to the findings.

Similar to recent years, the data also revealed that more than three-quarters of consumers (76%) plan to celebrate Father’s Day. 

What gifts people are buying for Father’s Day

Dig deeper:

When looking for Father’s Day gifts, shoppers said it was most important they find a gift that was unique or different (46%) or created a special memory (37%).

As in recent years, 58% of Father’s Day shoppers planned to purchase a greeting card, followed by clothing (55%), a special outing (53%) or gift cards (50%).

What they're saying:

"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," Phil Rist, Prosper’s executive vice president of strategy, said. "A special outing offers an opportunity to create new memories and celebrate together, while a personal care item allows dad to feel pampered."

The data also found that subscription boxes and gifts of experience continue to rise in popularity. This year, 43% of shoppers planned to gift a subscription box, up from 34% when NRF first asked the question in 2019. Additionally, 30% of shoppers planned to give a gift of experience, up from 23% in 2019.

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In line with last year, online remained the most popular shopping destination at 41%, followed by department stores (35%), discount stores (23%), specialty stores (22%) and local/small businesses (19%).

NRF provides data on consumer behavior and spending for key periods such as holidays throughout the year.