Washington, D.C. -- Consumers are predicted to spend an average of $106.49 on Father’s Day spending this year, up from $94.32 last year, according to the National Retail Federation’s Consumer Intentions and Actions Father’s Day survey. It is the highest in the eight years the survey has been conducted.
The survey, conducted by BIGresearch, finds that gift cards ($1.4 billion) are on the top of many consumers’ Father’s Day shopping lists, followed by sporting goods ($653 million) and automotive accessories ($593 million). Traditional gifts that remain popular selections are electronics, home-improvement tools, along with books and CDs.
With the hope to find the perfect gift, according to the NRF, “more than one-quarter of gift buyers (26.9%) will shop at a specialty store (electronics, gift store, etc.) and 22.1% will shop online.”