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 $16 billion (up from last year’s $15.3 billion). Spending has grown 70% since 2009 and is expected to average $138.97 for dads today. In addition to greeting cards, “outing gifts” (concerts, sporting events, dinner) represented the largest share of spending (46.8%). The most common gift this year is clothing (46%), followed by gift cards (43%). Happy Father’s Day to all the fathers out there!
Barbara Weltman
Big Ideas for Small Business, Inc.
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