Americans will spend a little bit more on dad this year, stretching their budgets enough to show their favorite man just how much he is appreciated.
The average person will shell out $119.84 on dad’s gifts this year, up from $117.14 last year, according to the National Retail Federation’s 2013 Father’s Day spending survey. Total spending for Father’s Day is expected to reach $13.3 billion.
“From patio sets and grills to ties and gardening tools, retailers will offer specials and promotions in the coming days for families as they scour retailers’ websites and stores for something they know dad will love,” said NRF President and CEO Matthew Shay.
Consumers will mostly stick to the traditional gifts for dad, but some will splurge on clothing, electronic items and special outings.
According to the survey, those celebrating Father’s Day will spend $2.5 billion on a special outing, such as a sporting event or dinner; $1.7 billion on a new electronic gadget, such as a tablet or GPS system; and $1.8 billion on clothing. Dad can also expect plenty of gift cards; families will shell out $1.8 billion on the perfect practical gift. Others will buy home improvement and gardening tools ($755 million), sporting goods ($710 million), personal care items ($707 million), and even automotive accessories ($592 million).
Though most will buy for “dad,” Americans will celebrate the other men in their life as well; more than half will buy gifts for their father or stepfather (53 percent), and three in 10 (29.1 percent) will shop for something nice for their husband. Additionally, 9.7 percent will buy a gift for their son, 4.9 percent will look for something for their grandfather and 6.4 percent will shop for their brother.
Department stores remain the preferred shopping location for gift buyers: four in 10 (40.6 percent) will look for dad’s gift there. Others will shop at discount stores (31.5 percent), specialty stores including greeting card/gift and electronics stores (27.3 percent), and specialty clothing stores (9.9 percent). Online retailers will see a slight increase in traffic this year; 29.8 percent will shop online, up from 28.4 percent last year.
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