American dads may feel a bit underappreciated after seeing the latest report on Father’s Day spending.
Consumers are expected to spend more than $7 billion less on Father’s Day than they did on Mother’s Day, according to a study by the National Retail Federation.
Shoppers are slated to drop a total of $12.5 billion for the June 15 holiday, compared to the estimated $19.9 billion in estimated spending on Mother’s Day, which fell last month.
In terms of individual shoppers, the NRF anticipates adults 18+ will spend $113.80 on Father’s Day, meanwhile spending was at $162.94 per shopper on Mother’s Day. That’s over a $50 difference between parents.
The poll, performed in early May, asked 6,540 people about their plans for Father’s Day spending.
So what kind of gifts are people buying dad? The lion’s share of cash is going to dining, clothing and gift cards.
According to the NRF, 41.6 percent of shoppers will buy clothes for their father, spending about $40 each. Meanwhile, 42.6 percent of adults said they would spend about $53 on dinner or another special outing.
This spending down slightly from the NRF’s 2013 survey, which estimated $13.3 billion to be spent on Father’s Day. However, the 2014 report found 70.2 percent of shoppers said they would spend the same amount on dad as they did last year -- while 15.1 percent of adults whose annual income is under $50,000 said they would spend less.
The NRF reports 35.8 percent of shoppers will buy dad’s gifts at a department store, while 28.4 percent will shop online.
Wives are showing their appreciation on Father’s Day though, with 50 percent of women planning to buy their husband a gift on the holiday. According to the NRF’s 2014 Mother’s Day survey, 44.6% percent of men planned to buy their wife a gift on Mother’s Day.