Father's Day spend will likely be record-setting event
Americans will spend more on Dad this year than in the past with Father's Day spending expected to hit a record-setting high of $15.5 billion, according to the National Retail Federation.
Most of the spend will be on events like ballgames, concert and meals, according to a press release on the NRF's annual survey regarding Father’s Day consumer activity.
Father's Day shoppers are expected to spend an average $134.75, up from last year's $125.92. The $15.5 billion prediction would be the highest number in the survey's 15-year history, topping last year's record of $14.3 billion.
"It's encouraging to see that consumers are spending on special occasions such as Father's Day," NRF President and CEO Matthew Shay said in the release. "This is a positive sign of strong consumer confidence heading into the second half of the year, and a good deal for all the dads who will reap the benefits."
Companies: National Retail Federation