How Much Money Is Spent on Father’s Day? (2013–2023)
Along with Mother’s Day and Valentine’s Day, Father’s Day ranks among the busiest shopping events of the year in the United States.
In 2023, Mother’s Day spending hit a record high of $35.7 billion, with consumers spending $3.2 billion on flowers alone.
But what about Father’s Day? How much money is spent on Father’s Day every year? We take a deep dive into Father’s Day spending in the US over the past decade.
How Much Money Is Spent on Father’s Day: 2013–2022
Annual Father’s Day spending has increased significantly over the past decade. This is according to data from the National Retail Federation, which has been tracking and analyzing Father’s Day expenditure since 2003.
The figures show that in 2013, Father’s Day spending came up to $13.3 billion, after a 4.5% annual increase. A year later expenditure fell by 6.1%, to $12.5 billion.
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The following three years saw annual growths in Father’s Day spending, with a noteworthy increase in 2016, when consumers spent 12.8% more to celebrate the event. That year, expenditure totaled $15.5 billion—the first time Father’s Day spending surpassed the $15 billion mark.
In 2018, expenditure dipped marginally by 1%, to $15.3 billion, before immediately rebounding and recording three consecutive years of growth. 2022 saw spending fall for the first time in four years, as expenditure dipped marginally by 0.5%, to $20 billion.
From 2013 to 2022, the biggest year-over-year increase came in 2021, when annual Father’s Day spending surged by 18.2%, to $20.1 billion.
Father’s Day spending in 2023
This year, overall Father’s Day spending rose by 14.5%, to $22.9 billion. The average spend per person among the 75% of consumers who said they planned on marking the occasion also surged—from $171.79 in 2022 to $196.23.
As a retailer hoping to cash in on consumers’ plans to celebrate the annual affair, simply having an idea of how much they spend on Father’s Day isn’t enough. It would also help to know what they’re spending on, to better prepare your store.
The data shows that the top expense for Father’s Day in 2023 was special outings. Consumers spent $4.4 billion on them this year. This is followed by clothing, with $3.5 billion, gift cards, with $2.8 billion, and electronics, with $2.6 billion. Personal care products round out the five biggest expenses for Father’s Day, with $1.7 billion.