Consumer Behavior

Father's Day spend will be record high, predicts NRF

Photo by istock.com

May 28, 2021

Spending on Father's Day this year will be a record-setter, the National Retail Federation said, hitting more than $20.1 billion.

Last year's total spend was $17 billion, according to the NRF, which commissions an annual holiday survey conducted by Prosper Insight & Analytics.

"Americans are looking forward to celebrating their fathers, husbands and sons this Father's Day," NRF President and CEO Matthew Shay said in a press release on the survey. "With our nation now making significant strides toward recovery and reopening, retailers are prepared to help customers safely find items they want and need to make this year's holiday celebration extra meaningful."

The survey revealed U.S. consumers plan to spend an average of $174 on Father's Day gifts, or $26 more than last year. About half (47%) of the increase comes from spending more on special outings, clothing and consumer electronics.

"Consumers are showing they are comfortable with pre-pandemic behaviors and activities, particularly as we head into the summer season," Prosper Vice President of Strategy Phil Rist said in the release. "Many are planning to take Dad out for a special meal or experience this Father's Day, which wasn't an option last year during the shutdowns."