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Retailers will see more consumer action for Father's Day this year

June 10, 2016

A new study predicts bigger consumer spend for the annual Dad holiday this month, with a projection of $14.3 billion in purchases.

The National Retail Federation's annual survey regarding Father's Day consumer activity reports the average spend will be $125.92, a healthy jump from last year’s average spend of $115.57, according to a NRF release.

The survey, conducted by Prosper Insight and Analytics, also notes consumers are still spending less on Dad than Mom, with Mother's Day spend hitting $21.4 billion this year.

"It's encouraging to see consumers planning to splurge on dads," NRF President and CEO Matthew Shay stated in the release. "This increase in spending could be a good sign related to consumers' willingness to spend more as we head into the second half of the year."

Nearly half of consumers, 47 percent, are expected to spend on fun activities and experiences, with clothing landing in second place at 43 percent and gift cards being chosen by 41 percent of shoppers.

"After seeing consumers splurge on moms and graduates earlier this year, it's no surprise that dads are going to enjoy a few more gifts on Father's Day," Prosper Principal Analyst Pam Goodfellow said in the release. "No matter what sales or promotions consumers will take advantage of on Father's Day, they will make sure that the gift is a memorable one for dad."

When it comes to shopping locale, 38 percent plan to hit department stores and 32 percent will shop online. Of those consumers with smartphones 30 percent will use their devices to research gift ideas but just 16 percent will make the purchase on the device.