Father’s Day 2023

Today is a day to honor dads. The National Retail Federation says that spending for Father’s Day this year could hit an all-time record $22.9 billion (up from last year’s $20 billion and higher than the previous record of $20.1 billion in 2021). Spending is expected to average $196.23. Nearly a third of consumers (29%) plan to give “gifts of experience” (e.g., tickets to a concert or sporting event). Another 42% are interested in gifting a subscription box service. Online remains consumers’ primary shopping destination, with 43% shopping online for Father’s Day (up from 40% last year). This is followed by 38% shopping at department stores, discount stores (24%), and specialty stores (22%). Happy Father’s Day to all the fathers out there! #IdeaoftheDay