US Father's Day gift spending forecast to reach all-time high

Yahoo

2 days ago

Spending on Father's Day gifts is forecast to reach an all-time high of $24bn in the United States this year, according to findings from the National Retail Federation (NRF) and Prosper Insights & Analytics.
The projected figure marks a significant increase from $22.4bn in 2023 and surpasses the previous record of $22.9bn set the same year.
The annual survey, which highlights consumer behaviour around the popular June celebration, shows that 76% of Americans plan to take part in Father's Day festivities.
Average spending is expected to rise to $199.38 per person, nearly $10 more than last year. Those aged between 35 and 44 are predicted to be the highest spenders, averaging $278.90 each.
The study found a growing preference for unique Father's Day gifts that carry emotional or personal value. Nearly half of respondents (46%) said they seek gifts that are 'unique or different,' while 37% prioritise presents that create lasting memories.
Popular gift choices include greeting cards (58%), clothing (55%), and special outings (53%). Gift cards remain in high demand, with half of all shoppers planning to purchase one.
Experiential gifts and subscription boxes are seeing a steady rise in interest. Around 30% of consumers say they will opt for experiences such as events or activities, up from 23% in 2019.
Subscription boxes, offering recurring deliveries of curated items, have also increased in popularity, with 43% planning to give them this year compared to 34% five years ago.
Online shopping continues to be the preferred method for many consumers, with 41% indicating they plan to make their Father's Day purchases digitally.
Department stores follow at 35%, with discount retailers (23%), specialty shops (22%), and local businesses (19%) also attracting customers.
Retailers are expected to respond to demand with a range of personalised gift options and flexible purchasing methods.
While digital platforms lead in convenience, in-store shopping still plays a notable role in consumer choice, especially among those looking for tangible, last-minute items.
The survey results suggest a positive outlook for discretionary spending, particularly around family-oriented holidays. The increased spending among middle-aged consumers reflects a willingness to invest in meaningful celebrations and thoughtful gifting.
Conducted between May 1 and May 7, the survey gathered responses from 8,225 adults and carries a margin of error of plus or minus 1.1 percentage points.
The NRF continues to monitor holiday-related consumer behaviour as part of its broader retail industry analysis.
"US Father's Day gift spending forecast to reach all-time high" was originally created and published by Retail Insight Network, a GlobalData owned brand.
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