Hot Items For Father’s Day: Record $15.5B Spend On Tickets, Electronics, Dinner, Ties
Tuesday, June 6, 2017 at 02:39PM in Father's Day. NRF, Finances, finances

"Today, father, is Father's Day
"And we're giving you a tie.
"It's not much, we know
"It is just our way of showing you
"We think you're a regular guy.
"You say it was nice of us to bother
"But it really was a pleasure to fuss.
"For according to our mother you're our father
"And that's good enough for us!" — "Father’s Day" as sung by Groucho Marx

By Barry Janoff

June 6, 2017

Some dads will be getting ties on Father’s Day, June 18, but many will be getting so much more.

People in the U.S. are expected to spend a record $15.5 billion on dads this year, topping last year’s $14.3 billion spend and the $12.8B spend in 2015.

People will spend an average of $134.75 per person, up from last year’s $125.92, according to the National Retail Federation’s annual survey conducted by Prosper Insight & Analytics.

The top items: some $3.9 billion on tickets to concerts, sports or other events; followed by $2.2 billion on gift cards (given by 43%), followed by $2.2 billion on clothing (46%) and $1.8 billion on consumer electronics (21%).

Despite the record spend on dad, however, mom still wins out.

According to NRF, people spent $23.6 billion on Mother’s Day last month.

Among other celebrations, 2017 saw a record $5.3 billion spend to celebrate St. Patrick’s Day, $18.2 billion on Valentine’s Day (down from $19.7 billion in 2016), $17.3 billion on Easter and $8.4 billion on Halloween, per NFR studies.

"It’s encouraging to see that consumers are spending on special occasions such as Father’s Day," Matthew Shay, president and CEO for Washington, DC-based NRF, said in a statement. "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."

Among the hot ticket items are hot ticket items for concerts, ballgames and other events.

According to NRF, 27% of dads would love a "gift of experience"” for Father’s Day, and 25% of those surveyed will do that via about $3.9 billion spend on tickets and event happenings.

Some 43% will spend $2.2 billion on gift cards, $2.2 billion on clothing (46%), $1.8 billion on consumer electronics (21%), $888 million on personal care products such as cologne (21%) and $885 million on home improvement supplies (16%).

Greeting cards are the most common gift, purchased by 64% of consumers, accounting for $861 million of projected spending. The next highest category is dinner or brunch, with 48% of those surveyed planning a special meal-related outing.

For Father’s Day, 40% of consumers will shop in a department stores, 34% will shop online, 26% in a discount store, 24% in a specialty store and 19% at a local small business.

Among smartphone owners, 33% will use them to research gift ideas but only 18% will use them to make a purchase. Tablets are used by 32% to do research (32%) but only 19% will use them to purchase any item.

"With shoppers planning to be more generous to dad this year, the personal care category will be one to watch," Pam Goodfellow, principal analyst for Prosper Insight & Analytics, said, in a statement. "Planned 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."

The survey of 7,335 consumers was conducted May 2-9. NRF said it has a margin of error of plus or minus 1.2 percentage points.

St. Patrick’s Day Will See $5B Spend On Green

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