The number of Americans (75 per cent) who plan to celebrate the holiday is consistent with previous years and the total spending for the holiday is likely to surpass last year’s record figure of $17 billion, said NRF.
Over 40 per cent of the respondents plan to buy gifts online, 33 per cent from department stores and 22 per cent from specialty stores. While those shopping online, whether through their smartphone or computer, to purchase gifts is down slightly from 2020, it remains above pre-pandemic figures.
Survey respondents also indicated that they plan to spend an average of $174 on Father’s Day items, or $26 more than last year and a record high for the survey. About half (47 per cent) of the increase comes from spending more on special outings, clothing and consumer electronics.
Those aged 35-44 will be this year’s biggest holiday spenders. They plan to spend an average of $259 on Father’s Day gifts, which is $49 more than last year.
“Americans are looking forward to celebrating their fathers, husbands and sons this Father’s Day,” NRF president and CEO Matthew Shay said. “With our nation now making significant strides toward recovery and reopening, retailers are prepared to help customers safely find items they want and need to make this year’s holiday celebration extra meaningful.”
The survey of 7,971 consumers was conducted from May 3-11 and has a margin of error of plus or minus 1.1 percentage points.
ALCHEMPro News Desk (KD)
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