Father’s Day Spending Rises Slightly [AUDIO]
With Father's Day coming up this weekend, a new survey finds spending for dear ol' dad up slightly this year with a new wrinkle.
Kathy Grannis, of the National Retail Federation, says they found average spending this Father's Day up to almost $120 on average from $117 last year. Department stores came out on top again for the survey, with four in 10 saying that's where they will shop for dad.
But Grannis says the survey also shows that just like "Cyber Monday" during the Christmas season.
"Twenty percent of Americans said that they would actually buy an item on their tablet, you know, or make a purchase on their tablet."
Consumers will mostly stick to the traditional gifts for dad, but some will splurge on clothing, electronic items, and special outings.
According to the survey, those celebrating Father's Day will spend $2.5 billion on a special outing, such as a sporting event or dinner, $1.7 billion on a new electronic gadget, such as a tablet or GPS system, and $1.8 billion on clothing.
Dad can also expect plenty of gift cards; families will shell out $1.8 billion on the perfect practical gift. Others will splurge on home improvement and gardening tools ($755 million), sporting goods ($710 million), personal care items ($707 million), and even automotive accessories ($592 million).
Total Father's day spending is expected to reach $13.3 billion.