Father’s Day was Sunday. According to the National Retail Federation, a record-setting $15.5 billion was spent on Dad this year, beating the previous record by 1.2 billion. Overall, 77% of the U.S. population will celebrate Father’s Day, which translates to about $136.75 spent per dad.
As for what Dad got, 40% of people shopped at department stores, while 34% got their gift online. Greeting cards are the most popular gift, if you can really call that a gift, with 64% of folks getting dad one, while 27% of people giving dad a “gift of experience,” like tickets to a game or a concert, or taking them on a trip or to a restaurant. Other popular Father’s Day gifts include:
- Clothing (46%)
- Gift cards (43%)
- Consumer electronics (21%)
- Personal care products like cologne (21%)
- Home improvement supplies (16%)
Source: 24/7 Wall Street