Ballgame tickets, electronics, fancy shaving razors: Americans will spend more than ever to honor their dads this year, according to a new survey by the National Retail Federation. The final tab is expected to reach a record-setting $15.5 billion, besting last year’s previous record of $14.3 billion.
“This is a positive sign of strong consumer confidence heading into the second half of the year, and a good deal for all the dads who will reap the benefits,” said Matthew Shay, president and CEO of the trade group, which has been tracking the spending for 15 years.
Father’s Day shoppers are expected to spend an average $134.75 — up from last year’s $125.92. Fifty-four percent are buying for their fathers or stepfathers, 29 percent for husbands, 10 percent for sons, the survey found.
Beyond greeting cards, “gifts of experience” — such as game tickets, brunch, concerts — were the most popular gifts, followed by gift cards, books and CDs, consumer electronics, personal care items, sports equipment, tools, gardening accessories and automotive supplies.
“Spending on items like cologne, aftershave and razors rose nearly 20 percent year-over-year, outpacing growth in every other gift category for Father’s Day,” said analyst Pam Goodfellow.
Indeed, Americans will drop $888 million on those items, the survey found.
The survey of 7,335 U.S. consumers was conducted May 2-9 and released June 5.
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