On Father's Day, people around the world look forward to celebrating their fathers, and stores provide a wide range of gift selections that help to create new memories.
According to the National Retail Federation (NRF), consumer spending on the coming 19th of June is expected to be $20 billion, this is nearly identical to the last year’s record of $20.1 billion.
Even with inflation being a major factor, Father’s Day spending is not going to take a hit this year. Following are some Father’s Day shopping statistics that show the resilience of this sentimental holiday.
Father's Day is coming, and the facts and figures reveal it is going to be a huge one. According to last year’s Father’s Day statistics, consumers were expected to spend an average of $174 on this day, up from $148 in 2020.
This year, consumers are set to spend an average of $171.79 on celebrating fathers. This is lesser than the previous year but still significant.
In 2018, the total expected money to be spend on Father’s Day was $15.3 billion, this figure touched $20.1 billion last year. In 2022, there will only be a slight decrease because the expected spending on this Father’s Day is $20 billion. Even the overwhelming inflation has been unable to stop this trend and people continue to spend money on the special men in their lives
People who are between the 35 to 44 age range were the biggest spenders on Father’s Day. They spent $210 on their dads per person. People who are 65+ spend the least on this day.
According to the NRF's 2022 data, 76% of consumers were expected to celebrate Father's Day last year, with greeting cards, apparel, and a special outing being the top gift suggestions.
The U.S. consumers were asked about the gifts they planned to purchase on Father's Day in a survey. The data revealed that greeting cards remained the most popular gifts in 2021 followed by clothing items.
Greeting Cards
Special Outing
Clothing
Gift Cards
Books/CDs
A little-known Father’s Day fact is that customers are always looking for a one-of-a-kind or unique gift for their father. When consumers were asked what is most essential to them when buying a Father's Day present last year, 41% wanted a gift that’s unique while 36% preferred a gift that created a special memory.
Father’s Day insights from different studies reveal that people have different approaches to selecting gifts for fathers and father-like figures. Last year, the most common requests were for Father's Day gifts that had to be distinctive or create a memorable memory, followed by practical and inexpensive gifts.
The latest Father’s Day statistics show gift cards are the most popular choice among dads. 40% of them are hoping for gift cards on Father’s Day. Dinner and clothes are the least choices for them.
Some of the recent facts and figures show that this year's Father's Day outings are back to pre-pandemic levels. In terms of giving dad a special outing, the biggest age group to shift towards this trend was 25 to 34 in 2021, when compared to 2020.
Consumers are becoming more accustomed to purchasing anything from groceries to furnishings to gym gear through online shopping. Shoppers will undoubtedly continue to rely on the convenience that purchasing through the internet typically provides even though things have reopened. Online shopping on Father’s Day will continue to grow
The Father’s Day shopping stats show that this holiday is ripe with opportunities for retailers. And looking at the recent industry insights, retailers could use additional sales they can get on June 19th. If you are an eCommerce site or a brick-and-mortar store, you can increase your sales significantly by appealing to customer needs. It’s an interesting fact about Father’s Day that despite inflation and economic uncertainties in recent years, the trend of Americans buying gifts for their fathers continues to grow. Retailers need to provide buyers with a diverse set of gifting options to pull them in.
