Father's Day spending in the US is expected to reach $22.4bn in 2024, according to the annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics.  

The figure is the second highest in the survey's history, closely following 2023's record of $22.9bn.  

Half of consumers plan to purchase a gift for a father or stepfather, making them the most common recipient, followed by husbands, sons, brothers, friends and grandfathers. 

On average, consumers plan to spend $189.81 on gifts and celebrations for Father's Day - slightly less than 2023's record of $196.23.  

The biggest spenders are expected to be consumers aged 25 to 34, with an average outlay of $275.67.  

Greeting cards are the most popular gift choice, with 58% of shoppers intending to buy one. Clothing, special outings, gift cards and personal care items are also among the top gifts. 

27% of shoppers are considering giving an experience-based gift, such as tickets to a sporting event or concert, although this is a slight decrease from 29% the previous year.  

There is a growing interest in gifting product subscriptions, with 42% of consumers considering this - up from 34% in 2019. 

When selecting gifts, 47% of consumers are looking for something unique or different, while 39% prioritise creating a special memory.  

Online shopping remains the preferred method for Father's Day gift purchases, with 42% of consumers planning to buy gifts online, closely followed by department stores, discount stores, speciality stores and local/small businesses. 

The survey of 8,580 consumers was conducted from 1 to 8 May 2024 and has a margin of error of plus or minus 1.1 percentage points. 

NRF president and CEO Matthew Shay said: “Father’s Day is an opportunity to celebrate our fathers and the paternal role models who have played such a positive role in our lives. There is no doubt that retailers have the perfect gift consumers want to purchase for the men they wish to recognise on this special day.”