Americans predict to spend a ‘record’ $22.9 billion on Father’s Day

My father is still very important to me.

U.S. consumers will spend a record $22.9 billion on Father’s Day this year, up from $20 billion last year, according to a survey by the National Retail Federation. there is

“Father’s Day continues to be an important day for Americans to pay tribute to an important person in their lives,” said Matthew Shay, CEO of the retail group.

Three-quarters of consumers plan to celebrate Father’s Day this year, with individuals spending an average of $196.23.

Half of those celebrating the holiday plan to buy for their father or stepfather, followed by husbands (27%), sons (11%), brothers (9%), friends (8%) and grandfathers (7%). .

As in previous years, greeting cards were the most popular Father’s Day gift, purchased by 61%. Other top gifts include clothing (55%), special outings such as dinner or brunch (52%), gift cards (48%) and personal care products (32%).

The retail survey of 8,414 US consumers was conducted May 1-8 and was released on June 1.

Meanwhile, the White House isn’t ignoring Father’s Day.

“On Father’s Day, we celebrate fathers, stepfathers, grandfathers, and other figures in our lives who are like us. They shape us and set an example for who we want to be.” They make the sacrifices that help us succeed, guide us to our potential, and believe in us so that we learn to believe in ourselves.” said in a White House statement released on Friday.