The National Retail Federation projects Americans will spend $12.7 on Father's Day. Know what they spent for Mother's Day? $21.2 billion.
You notice it’s hardly ever “Hi, Dad,” to whom an athlete gives a big, nationally televised shout-out following a big game. Mom gets all the attention. What’s up with that?
The same with Father’s Day. According to the National Retail Federation, Mother’s Day ranks as the second biggest retail spending observance behind the winter holiday season. And Father’s Day? It ranks below Valentine’s Day and Easter, but just above the Super Bowl.
Not that $12.7 billion is small potatoes. That’s what consumers are expected to shell out for dear old dad this year, according to the annual NRF Father’s Day consumer spending survey. The average person is forecast to spend $115.57, basically unchanged from last year. Three-fourths of Americans said they plan to celebrate Father’s Day.
Dare we look? Brace yourself, dad; the NRF projected Americans to spend $21.2 billion on Mom last month.
Indeed, a new Spectrem Group Investor Pulse survey for Millionaire Corner finds that affluent households will spend nearly 8 times more on Mother’s Day than Father’s Day. When asked on which holiday they spend more money, 43 percent said Mother’s Day, while a mere 5 percent said Father’s Day. One-fourth indicated they spend an equal amount on both, while nearly 30 percent said they do not spend money on either (good luck at will time).
Millennials and Baby Boomers ages 51-60 are only slightly more likely to spend more on Father’s Day than Mother’s Day (7 percent), while those Boomers are much more likely to show mom the love (47 percent)
There is not much statistical difference between Republicans and Democrats or liberals and conservatives regarding Father’s Day vs. Mother’s Day spending. Mom wins out again. Interestingly, though, daughters outspend sons 10-1 on Father's Day, while nearly 60 percent of sons spend more on Mother's Day compared with 27 percent of daughters.
Of those precious few who do spend more on Father’s Day, how much more do they spend? The highest percentage (47 percent) indicated they spend up to 25 percent more. Twenty-one percent said they spend between 76 percent and 100 percent more, while 19 percent said they spend 26 percent to 50 percent more.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.