After almost a century of playing second-fiddle to Mother’s Day in the finance department, a new report says that Father’s Day spending is expected to reach a record $16 billion in 2019, a 70 percent growth since 2009. So maybe you can finally be expecting something a little nicer than a bargain necktie.
The survey, which was conducted by the National Retail Foundation, found that 75.9 percent of people are planning to celebrate Father’s Day and will be spending an average of $138.97, marking an increase of more than $40 over the last decade.
“Fathers, husbands and sons can expect to feel the love this Father’s Day,” NRF President and CEO Matthew Shay said. “Over the past decade, spending on Father’s Day gifts has increased significantly. Retailers are ready with gifts that will have no problem impressing dad.”
Of the $16 billion, NRF projects that $3.3 billion will be spent on “special outings”, while nearly $5 billion will be spent on clothing and gift cards. So if you’re hoping to get a gift card to a specific store or those shoes you wish you had gotten for Christmas, this may your lucky day.
Still, while Father’s Day has seen substantial growth over the past decade, it still has a long way to go to catch up to Mother’s Day, as a mind-boggling $25 million was reportedly spent on the holiday this year. But as it continues to grow in prominence, perhaps Father’s Day will one day be as much of a manifestation of consumerism as its co-parenting counterpart. One can only hope.