Record High Spending For Father's Day Means Great News For Dads
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.
Copyright 2020 WFSU. To see more, visit WFSU.