Father’s Day Spending Expected to Reach New Heights
Dads are getting the royal treatment this year with spending up 10 percent, meaning people are spending more than ever before. Can you guess how much Americans will spend?
Greendale dads, get ready for what could be a pretty pricy gift this Father’s Day.
The National Retail Federation says 2012 Father’s Day spending is expected to be up 10 percent over last year, with the average person spending $117. Total spending nationally is expected to reach $12.7 billion, meaning consumers are ready to spend more this Father’s Day than ever before.
The top items people will be buying dad this year are:
- Special Outings (golf, dinner, etc.) - $2.3 billion
- Electronics - $1.7 billion
- Apparel - $1.7 billion
- Gift cards - $1.7 billion
- Books or music - $645 million
- Sporting goods $641 million
And local department stores like Kohl’s, Macy's, Boston Store, Sears and JCPenney are expecting to rake in the dough on Father’s Day. According to the NRF survey, four in 10 people say they’ll be looking for dad’s gift there. Others say they’ll be looking at discount stores or specialty stores like Shoppe Around the Corner
"It should come as no surprise that dads are considerably more laid back when it comes to their special day, opting most times to simply spend quality time with loved ones at a restaurant or at home in the backyard," said the survey's Consumer Insights Director Pam Goodfellow. "But this Father's Day it's evident that consumers want to thank dad for the support and undivided attention he provides throughout the year."