Father’s Day Spending to Top $22.4 Billion

Near-record sales numbers are expected for his special day this year.

Jane Neal, Content Editor

June 12, 2024

3 Min Read
Father's Day
Father's DayProstock-Studio, iStock / Getty Images Plus

Fathers … there’s a whole lot of them out there. The U.S. Census Bureau reports there are an estimated 72 million fathers across the nation, and 29 million of them are also grandfathers. And with Father’s Day coming up fast (falling on June 16 this year), that translates to a lot of shopping. Father’s Day spending is expected to reach $22.4 billion this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. This is the second-highest figure in the survey’s history and on par with last year’s record of $22.9 billion.  

Similar to 2023’s numbers, three-quarters of consumers plan to celebrate Father’s Day this June. On average, those shopping for Dad plan to spend $189.81 on gifts and celebrations, just shy of last year’s record of $196.23. 

Not that it’s a competition, but as impressive as those numbers might be, they don’t quite measure up to the love we showered on our moms this year. As License Global reported last month, Mother’s Day spending this year was expected to reach $33.5 billion in the U.S., with 84% of U.S. adults expected to celebrate the holiday. Statista ranks Father’s Day fifth on the list of holidays and events consumers purchase gifts for in the U.S. (Not only does Dad fall below Mom, he also trails Christmas, birthdays and Valentine’s Day.)

Related:Mother’s Day Consumer Spending Could Reach Near-Record $33.5 Billion

“Father’s Day is an opportunity to celebrate our fathers and paternal role models who have played such a positive role in our lives,” says Matthew Shay, president, chief executive officer, NRF. “There is no doubt that retailers have the perfect gift consumers want to purchase for the men they wish to recognize on this special day.”

Half of consumers plan to purchase a gift for a father or stepfather, followed by those purchasing gifts for a husband (26%), son (10%), brother (8%), friend (8%) or grandfather (6%).  

Consumers ages 25-34 are the biggest spenders this year, at an average of $275.67 per person. 

Like Mother’s Day, greeting cards remain the most popular Father’s Day gifts, with 58% of shoppers planning to purchase one. After the requisite card, clothing (54%), a special outing (52%), gift cards (48%) and personal care items (31%) were the most popular dad gifts.

“While spending on these gift categories is mostly in line with last year’s record numbers, they are still significantly above pre-pandemic spending,” says Phil Rist, executive vice president, strategy, Prosper. “This is especially true in clothing, personal care, tools and appliances, electronics, home improvement items, gift cards and special outings, which have all increased by half a billion or more since 2019.”

Gifting Experiences

Many consumers are planning to use gift-giving to make memories with Dad. Taking him to the ballpark, for example, can be a win for everyone. That’s probably why over a quarter (27%) of Father’s Day shoppers plan to give a gift of experience, such as tickets to a sporting event, concert or other special outing, down slightly from 29% last year. 

One interesting uptick is in purchasing subscription boxes – gifts that keep on giving. This year, 42% of consumers expressed an interest in gifting a product subscription box, up from 34% in 2019 when NRF first started asking this question.  

Whatever the purchase, one of the key concerns is finding something truly special for Pops. Those looking for Father’s Day items say it’s most important to find a gift that is unique or different (47%) when considering their purchases, while others prioritize a gift that creates a special memory (39%).  
Online continues to be the most popular shopping destination for Father’s Day gifts at 42%, in line with 43% last year. Other popular choices include department stores (38%), discount stores (24%), specialty stores (22%) and local/small businesses (19%). 

About the Author(s)

Jane Neal

Content Editor, License Global

Jane Neal is a Content Editor for License Global. Working remotely in the great state of Wisconsin, Jane specializes in retail and pop-culture trends.

She has worked extensively in the communication field as a managing editor, advertising copywriter, technical writer and journalist. She detoured for several years into academia where she taught journalism, English and humanities at the college level.

A complete Marvel nerd, she enjoys food, films, fishing, friends and family … and alliteration.

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