MNI BRIEF: US Retail Spending Set For Father's Day Surge - NRF

Spending on Father's Day gifts next month is set to hit a record high, the National Retail Federation said Tuesday, as vaccines facilitate further business reopenings and in-person activities resume. Father's Day spending is expected to total a record USD20.1 billion, up from last year's record of USD17 billion and following on from the record Mother's Day spending seen in early May.

U.S. consumers plan to spend an average of USD174 on Father's Day items, according to the NRF's annual survey conducted by Prosper Insight & Analytics. That's USD26 more on average than last year, and should be mostly driven by spending on greeting cards, clothing, restaurant visits, and personal care items.

About 40% of the roughly 8,000 consumers surveyed said they would purchase gifts online, down slightly from 2020 though still above pre-pandemic levels, the NRF said. Just over 30% said they would shop at department stores and 23% plan to buy from specialty stores, like sporting goods stores or florists.