US survey: Father's Day spending less than Mother's Day

It's that time of year again, folks! Father's Day is almost here, and while it's a day to honor all the dads out there, let's not forget the uncle who was like a dad, the friend who's a great dad, and everyone in between.

This year, Americans are expected to fork over $22.4 billion on dear old dad, making it the second-highest spending Father's Day on record, according to the National Retail Federation (NRF).

While spending on these gift categories is mostly in line with last year’s record numbers, they are still significantly above pre-pandemic spending. - Phil Rist, Prosper Insights Executive VP of Strategy

A Day for All 'Dads'

While the first Father's Day celebration happened in 1910, it only became an official US holiday in 1972, thanks to President Richard Nixon. Before that, in 1966, President Lyndon B. Johnson designated the third Sunday in June as "Father's Day."

Spending Habits

• Total Spending: $22.4 billion expected in 2024, slightly down from the record $22.9 billion in 2023.
• Big Spenders: Those aged 25-34 are projected to spend the most, averaging $275.67.
• Popular Gifts:
  • Greeting Cards (58%)
  • Clothing (54%)
  • Special Outings (52%)
  • Gift Cards (48%)
  • Personal Care Items (31%)
  • Last-minute Gift Ideas

The Nationwide 'Language of Love'

Spending habits show that gift-giving is a common language of love in the US, with Americans consistently spending large amounts on holidays like Mother's Day and Father's Day. However, it's interesting to note that spending on Father's Day is $13 billion less than what was spent on moms this year.

So, to all the fathers and father figures out there, happy Father's Day! And to those doing the celebrating and spending, remember, it's the thought that counts, but a cool gift doesn't hurt either!