Father’s Day Spending to Top $22.4 Billion

Fathers … there’s a whole lot of them out there. The U.S. Census Bureau reports there are an estimated 72 million fathers across the nation, and 29 million of them are also grandfathers. And with Father’s Day coming up fast (falling on June 16 this year), that translates to a lot of shopping. Father’s Day spending is expected to reach $22.4 billion this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. This is the second-highest figure in the survey’s history and on par with last year’s record of $22.9 billion.

Half of consumers plan to purchase a gift

Similar to 2023’s numbers, three-quarters of consumers plan to celebrate Father’s Day this June. On average, those shopping for Dad plan to spend $189.81 on gifts and celebrations, just shy of last year’s record of $196.23. 

Not that it’s a competition, but as impressive as those numbers might be, they don’t quite measure up to the love we showered on our moms this year. Mother’s Day spending this year was expected to reach $33.5 billion in the U.S., with 84% of U.S. adults expected to celebrate the holiday. Statista ranks Father’s Day fifth on the list of holidays and events consumers purchase gifts for in the U.S. (Not only does Dad fall below Mom, he also trails Christmas, birthdays and Valentine’s Day.)

www.statista.com/statistics/1462255/leading-holidays-and-events-consumers-buy-gifts-for-usa/