Consumers will spend an average $125.92 on Father’s Day gifts this year, up more than $10 from 2015, according to new projections from the National Retail Federation.
Total spending is expected to reach $14.3 billion, the highest in the survey’s 13-year history.
However, moms still outrank dads: Consumers were expected to spend an average $172.22 on Mother’s Day gifts in 2016, or $21.4 billion total.
Greeting cards will be one of the most popular Father’s Day items, representing almost 65 percent of all purchases. More than 32 percent of shopping will take place online this year, which could increase package volumes in the shipping sector.
“After seeing consumers splurge on moms and graduates earlier this year, it’s no surprise that dads are going to enjoy a few more gifts on Father’s Day,” said industry analyst Pam Goodfellow.