Consumers expected to spend $13 billion on Dad
by June 10, 2013 5:03 pm 92 views
Father’s Day is June 16 and retailers expect consumers to dole out $119.84 per person for dear ole dad. Spending is expected to total roughly $13.3 billion, up slightly from last year, according to the National Retail Federation and IBIS World, a market research firm.
Consumer are expected to spend about $2.5 billion on special outings like brunch or a sporting event, compared to $1.8 billion spent on clothing and $1.7 billion on electronics, according to the NRF.
It turns out consumers use this holiday to celebrate the other male relationships as well, the survey found more than half of respondents plan to buy gifts for step-dads, husbands, sons, grandfathers and brothers.