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Economy / Business

Record High Spending For Father's Day Means Great News For Dads

$15.3 billion will be spent nationally this Father's Day.
$15.3 billion will be spent nationally this Father's Day.
$15.3 billion will be spent nationally this Father's Day.
Credit Juliane Liebermann / Unsplash
$15.3 billion will be spent nationally this Father's Day.

Father’s Day is around the corner, with the average Floridian family spending $133 on their dad. The Florida Retail Federation says with unemployment at a 10-year-low and a strong state economy, the retail industry remains robust for this holiday.

This year’s Father’s Day purchases will be the second highest per-person spending in the FRF survey history. 25 to 34 year olds will be the biggest spenders this holiday, averaging at $188 per person. FRF Spokesman James Miller says consumers are moving away from materialistic gifts and towards ‘special outing’ presents.

“Overall with the retail industry, we are seeing a shift to more ‘experience’ gifts; dinners, concerts, sporting events. And that’s the number one gift to be given this year for Father’s Day is that ‘experience’,” says Miller.

A survey conducted by the National Retail Federation found 47 percent of individuals plan to give their fathers ‘experiences’. Follow up top items are clothing, gift cards, and consumer electronics.

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