Father's Day Spending Higher Than Ever
All those power tools, cigars, grills and tech gadgets for your pops don't come cheap. The National Retail Federation's annual survey shows kids will spend more than ever—$14.3B—on Father's Day this year.
Around 47% of consumers will spend on an experience like a meal or activity, 43% will give dad clothing (because he really needs another tie), 41% will give gift cards and 20% will give electronics. Kids will spend $833M on greeting cards alone.
Brick-and-mortar still gets the most Father's Day business at 38% (especially sporting goods stores like Dick's) with e-commerce following at 32%. Half of consumers will be buying for Dad or another father figure, while a smaller number shop for their husband or son.
Consumers will spend $126 on average for their father on Sunday, up from 2015's average of $116—so basically, Dad will get one more overpriced beer at the sporting event of his choice this weekend.
Unsurprisingly, Mother's Day still accounts for more spending—$21.4B in 2016. Because really, she carried you for nine months, it's the least you can do.