Find out how much we are planning to spend on our Dads for Father's Day 2023 with the latest gift statistics and trends.
We all need a strong and dependable father figure in our lives to help guide us, protect us, and be a good role model.
So if you're lucky enough to be blessed with an amazing Dad then don't be shy in letting him know.
Because Father's Day is a great time to show your appreciation and tell him how much you love him.
And you can do this by spending quality time together, taking him out for dinner, beers, or to a sports game, or by giving him a nice gift that he'll get plenty of enjoyment from.
However, deciding what to get for your old man can be confusing.
So we thought we'd take a look at the latest Father's Day gift statistics to see just what others are buying for their Dads and how much it's costing.
And to do this we analysed surveys from the following retail companies as well as other reports and studies to get an idea of the general Father's Day shopping trends:
How Much Are We Spending For Father's Day In 2023?
The total expected Father's Day spending in the United States in 2023 was $22.9 billion, with the average American household planning to spend a record high of $196.23 each (National Retail Federation).
This has been steadily increasing over the last decade, rising by a whopping 64% from $119.84 in 2013 and 14% from the $171.79 average spend from the previous year of 2022.
But it's still nowhere near as much as we spend on Mother's Day, with the total expected spend on Moms in 2023 being $35.7 billion, with an average spend of $274.02 (National Retail Federation).
And coming back to Father's Day, the highest spenders were in the 35-44 age group, who spent almost $100 more on average than consumers in other age ranges (National Retail Federation).
While the greeting cards industry also does very well on Father's Day, with 61% of people planning to buy a card for the old man this year at an average spend of $8.03 (National Retail Federation).
Which works out at a whopping $900 million overall. Kerching!
With the Greetings Card Association estimating that 72 million Father's Day cards are sold each year in America.
What Are The Most Popular Father's Day Gifts In 2023?
It can be hard to know what to get your Dad for Father's Day each year.
So let's take a look at what Americans were most commonly expecting to buy in 2023 according to the Father's Day survey from the National Retail Federation.
So clothing was the most popular choice of Father's Day gift item, which is probably no surprise seeing the amount of ties, belts, socks and slippers that Dads tend to get each year!
But gift cards in third place were a great option too, with a total of $2.8 billion expected to be spent on them for Father's Day.
However, these gift categories weren't the only options, as 29% were thinking about giving their Father a gift of an experience instead of a physical gift (National Retail Federation).
While 42% were interested in getting them a subscription box for Father's Day (National Retail Federation).
What Was Important In Our Choice Of Father's Day Gift For 2022?
When asked what the most important thing is when picking out a Father's Day gift for 2022, 44% of people said they wanted to get something that was unique or different (National Retail Federation).
While 37% wanted to find a gift that would create a special memory, which is maybe why special outings are such a popular gift choice.
Then there were the 24% of people that wanted to find a gift that was convenient for them and the 18% who wanted to keep the costs low, while 9% stated a different reason.
Girls really love their Daddies and it was more important for women to get their Dad's something memorable than it was for men (41% compared to 32%) (National Retail Federaton).
While men had a bigger preference for their own convenience when buying a Father's Day gift (29% compared to only 20% of women).
And these convenience shoppers would have contributed to the large number of online shoppers on Father's Day 2023, with 43% of people planning to buy their Father's Day gifts online (National Retail Federation).
What Do Dads Really Want For Father's Day?
So we now know what people are buying for their Dads on Father's Day, but are they making the right choices?
Let's take a look at what the Dads are saying.
According to the Father's Day survey from RetailMeNot, the most wanted gift among Dads were gift cards, with 40% hoping for one for Father's Day 2020.
This was followed by being treated to a meal, either by being taken out to a restaurant (32%) or with nice food to eat at home (27%).
Clothes were the next choice, with 27% of Dads wanting a clothing gift (although I'm sure most of them have had enough of new ties for Father's Day!).
While 18% said they'd be happy to receive alcohol, so a nice bottle of wine, whiskey, or some beers is a decent option.
17% of Dads were after an electronical gadget, and the same number said they wanted some chocolate.
And finally, 13% said they'd prefer an experience gift rather than a physical gift for Father's Day.
Father's Day is a great chance for us all to show our love and appreciation for our Dads by spending time together and spoiling them.
So I hope these Father's Day gift statistics have been helpful in showing you the general trends in what people are buying and how much they're spending.
As well as giving you an idea of what most Dads really want.