Latest news with #PhilRist
Yahoo
a day ago
- Business
- Yahoo
Father's Day hits record sales high
With Father's Day just around the corner, Americans are projected to spend a record $24 billion on dads and father figures this year, per survey data from the National Retail Federation (NRF) and Prosper Insights & Analytics. That's up from $22.4 billion in 2024 and the prior peak of $22.9 billion in 2023. Shoppers plan to shell out an average of $199.38 per person, nearly $10 more than in 2024, with the 35–44 age group leading the charge at an average of $278.90. Father's Day gifting is evolving: while 58% of consumers still buy greeting cards, many are opting for more meaningful presents. 55% will purchase clothing, 53% special outings, and 50% gift cards. Experience-driven gifts continue to gain momentum: 43% plan subscription boxes (up from 34% in 2019) 30% intend to give experiences like concert tickets (up from 23% in 2019) 'As consumers prioritize Father's Day gifts that are unique or create special memories, categories such as special outings and personal care items have seen an increase in popularity this year,' said Phil Rist, EVP of Strategy at Prosper. 'A special outing offers an opportunity to create new memories and celebrate together, while a personal care item allows dad to feel pampered.' Online shopping continues to lead, with 41% of purchases made digitally. Department stores follow at 35%, discount and specialty stores at 23–22%, and 19% shop in local or small businesses. 'Americans are embracing meaningful traditions and holidays, and this Father's Day, spending on gifts and other holiday items is expected to reach record levels,' said Katherine Cullen, VP of Industry and Consumer Insights at NRF. 'As consumers look to recognize the father figures in their lives, retailers are prepared with gift ideas, special deals and convenient shopping options to help customers find the right gifts.' Held on Sunday, June 15, Father's Day 2025 will likely mark a milestone for both heartfelt celebrations and retail success.
USA Today
09-05-2025
- Business
- USA Today
Economy in trouble? Apparently not when it comes to Mother's Day
Economy in trouble? Apparently not when it comes to Mother's Day This year, Mother's Day falls on May 11. In 1914, Congress passed a law designating the second Sunday in May as Mother's Day. Despite concerns about the economy, consumer spending for Mother's Day is projected to reach $34.1 billion this year. A recent survey from the National Retail Federation revealed that 84% of U.S. adults plan to celebrate the holiday, with an expected average spending of $259 per person, which is about $5 more than their budget for 2024. What are consumers their spending money on? The most popular gift categories remain flowers, greeting cards and special outings such as dinner or brunch. Consumers will spend a total of $6.8 billion on jewelry, $6.3 billion on special outings and $3.5 billion on gift cards. Total spending on flowers is expected to reach $3.2 billion, while total spending on greeting cards is expected to reach $1.1 billion. Where are consumers shopping for Mother's Day? Online remains the top shopping destination. Making Mom feel special Shoppers are increasingly focusing on meaningful gifts this holiday season. Almost half of consumers indicate that their top priority is to find a gift that is unique or distinctive. Also, experiences as gifts remain popular in the post-pandemic era, with 36% of men planning to give experiences this year, a rise from 29% in 2019. 'Alongside traditional gifts like flowers or a card, gifts of experience are a way to create a special memory with mom,' Prosper Executive Vice President of Strategy Phil Rist said. 'Whether it's tickets to a concert or movie, a wine tasting or simply a scenic hike and picnic, there are options to fit any budget.' Time is always more valuable than money Mothers generally appreciate almost anything you do for them. You don't have to break the bank to make Mom happy. The top gifts moms with children younger than 18 want are quality time, flowers and an experience like dinner or a spa treatment. So go see your mom in person if you can. Call your mom. Zoom or FaceTime with her. Your quality time together is priceless. Giving Mom a break Mothers work hard and give their time unselfishly. It's time to give her a break. Celebrate Mom by letting her sleep in, taking some of those chores off her list, or lightening her load by running some errands. There are many ways to honor your mom without breaking the bank. Budget your gift Take time to think about what you want to get Mom and how much you can afford. Going shopping without a plan leads to more impulse buying. Also, shop around to get the best price. SOURCE USA TODAY Network reporting and research; National Retail Federation
