Most still spend more on Mom
Researchers say spending on dad will hit a record $120 on average this Father's Day.
Typically, children spend about 15 percent to 20 percent more on their mother than they do on their father. It's a gap that is closing.
"It should come as no surprise that dads are considerably more laid back when it comes to their special day, opting most times to simply spend quality time with loved ones at a restaurant or at home in the backyard," said BIGinsight Consumer Insights Director Pam Goodfellow. "But this Father's Day it's evident that consumers want to thank dad for the support and undivided attention he provides throughout the year."
Their survey found the average person would spend about $120 on gifts for their father, up 10 percent from last year. The total value of the holiday is estimated at $12.7 billion.
Four in 10 consumers told BIGInsight that they would head to the department store to do their shopping. But many consumers will treat their fathers to a special outing, such as golfing, eating out or heading to a sporting event. That will account for about $2.3 billion.
We also are expected spend $1.7 billion on electronic gift items and apparel. Others will splurge on gift cards, another $1.7 billion, sporting goods to the tune of $641 million, and $645 million on books or music.
81 percent of those respondents feel Mother’s Day and Father’s Day should be celebrated equally, but more than three-quarters of both men and women said they believe mothers receive more attention and celebration on Mother’s Day than dads do on Father’s Day.
Story courtesy of Matt Bruning