Americans predicted to spend ‘record-breaking’ $22.9 billion on Father’s Day

Dad remains to be expensive.

U.S. customers will collectively spend a record-high $22.9 billion to have a good time Father’s Day this 12 months, in keeping with a  National Retail Federation survey—  up from the $20 billion they dropped final 12 months,

“Father’s Day remains a momentous occasion for Americans to honor the important men in their lives,” mentioned Matthew Shay, CEO of the retail group.

Three-quarters of customers plan to have a good time Father’s Day this 12 months, and so they’ll individually spend $196.23 on common.

Half of these celebrating the vacation plan to purchase for a father or stepfather, adopted by a husband (27%), son (11%), brother (9%), buddy (8%) or grandfather (7%).

As in earlier years, the preferred Father’s Day presents are greeting playing cards, bought by 61%. Other high presents embrace clothes (55%), a particular outing comparable to dinner or brunch (52%), reward playing cards (48%) and private care objects (32%).  

The retail survey of 8,414 U.S. customers was carried out May 1-8 and launched June 1.

The White House, in the meantime, has not neglected Father’s Day.

“On Father’s Day, we celebrate the dads, stepdads, grandfathers, and father figures in our lives, who shape who we are and set an example for the kind of people we aspire to be.  They sacrifice so we can succeed, they mentor us so we can reach our potential, and they believe in us so we can learn to believe in ourselves,” famous a White House proclamation for the day launched on Friday.