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Father's Day spending to hit 20.1 billion
A retail tracking group says that the Father's Day gift price tag should be up from last year. According to the research, a majority of dads get greeting cards with almost 50 percent getting a gift of new clothes.
ATLANTA - Sunday is Father’s Day. And if you think the big spending is just for mothers, it’s not. Dad’s day is a $20 billion industry.
Most of it goes toward old-fashioned gifts. According to the National Retail Federation, 75 percent of what dads receive are gifts. But they can get more than one.
All kinds of dads will get something on Sunday. Biological dads. Stepdads. Sons. Husbands. And the gift price tag is expected to actually be up from last year. The retail tracking group says the number will hit around $174. Although, for older gift-givers, it could be more like $250.
Feeling pressured now? Well, this is what dads get, if this helps you to decide.
FATHER’S DAY GIFTS
- Cards - 59%
- Clothing - 49%
- Restaurant - 46%
- Gift cards - 45%
- Personal care - 28%
So don’t feel pressure; just go grab something now. It’s been a tough year on everybody, dads, too. Again, Father’s Day is Sunday. This Sunday, June 20.
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