New York -- Research released by IBISWorld showed that Father’s Day sales are forecast to total $13 billion in 2013, a 2% year-over-year increase. Results are expected to get a boost from the overall rise in consumer spending.
Special outings, such as dining out and watching sporting events, are expected to account for the largest share of Father’s Day spending this year, contributing 18.8% of total holiday sales, up 3.5% from 2012.
Behind outings, gifts of books, CDs, personal care products and sporting goods are expected to account for 18.4% of Father’s Day 2013, up 2% from last year.
Greeting card sales will also see an increase over 2012, slated to jump 9%. Apparel spending, however, is slated to dip slightly this year, as consumers lean more toward electronics purchases for Dad. Gift cards will remain a holiday mainstay, accounting for 13% of Father’s Day spending – which is the same as 2012.