How much do you spend on dear old dad’s Father’s Day gift? Fifty bucks? A hundo?
Even if you’re spending the latter, your present still falls under the average gift price, which is $US115.57, according to a report by the National Retail Federation (NRF).
The number is actually up a couple of dollars up from last year’s figure, $US113.80, and it was determined by a poll of 6,087 consumers.
More than half (51.8%) of those polled said they were shopping for their father or stepfather, while 27.6% said they were shopping for a spouse and 8.9% said they were buying something for a son.
Good news for dads who receive a gift bought online: The average cost of a Father’s Day gift purchased online is $US157. The NRF notes that three in 10 consumers polled will buy dad’s gift online this year.
How do Father’s Day gift sales stack up to Mother’s Day gift sales? The NRF predicts that consumers will spend $US13 billion on 2015 Father’s Day gifting, but that pales in comparison to the $US21 billion they spent on Mother’s Day gifts this May.