3 things to know about Father's Day this year

As Father's Day approaches, consumers are gearing up to celebrate Dad in ways big and small. In fact, the annual NRF and Prosper Insights & Analytics Father's Day survey found that consumers plan to spend $22.4 billion on gifts and other items to celebrate dads this year, second only to expected record spending of $22.9 billion last year. Read on to learn more about the trends behind these numbers, including how men approach the holidays compared to women and the top gifting trends over the years where consumers are showing their appreciation for all the fathers and other father figures in their lives.

Men and women shop differently for Father's Day

While Father's Day spending is no joke, it's still well below the $33.5 billion consumers budgeted for Mother's Day this year. And while there are key differences between Mother's Day and Father's Day, one thing they both have in common? Men are more likely than women to celebrate both holidays, and men also spend significantly more than women on both holidays.

This difference in spending is all the more impressive since women often buy for more people than men. Seventy-nine percent of women who shop for Father's Day are shopping for both their spouse and their father or father-in-law, while men are significantly less likely to buy for their partner for the holiday. However, more does not necessarily mean better. Although both sexes are more likely to appreciate a unique or different gift, the similarities end there.

Forty-four percent of women say finding a Father's Day gift that creates a special memory is most important to them, compared to just 35% of men. And 29% of men say it's more important to find a practical gift, compared to just 20% of women. This could explain why men are also more likely to give their dad a gift card this year, compared to women. There are few more practical items.

Consumers help dad put his best foot forward (clothed)

Although clothes are a popular gift for both holidays, dads are more likely to receive a gift of clothes than moms. More than half (54%) of those celebrating Father's Day plan to give clothes, compared to 43% who chose to give their mom a similar gift. And while some dads may still open a box containing a new tie or dress shirt on June 16, there are clothing gift options to suit every dad's style (or lack thereof). If your dad isn't the monogram type, retailers love Sockology have him covered in personalized socks that can be printed with a picture of his classic smile. And if he needs a complete wardrobe refresh, a subscription to clothing services like Stitchfix Or Majestic can dress her from head to toe.

From my time to check out buyers want daddy to please

While certain types of gift cards, clothing or a special outing are, like Dad himself, a Father's Day classic, in recent years, shoppers have also turned to other categories of gifts to make special holidays. For example, 31% of those celebrating this year plan to gift dad a personal care item, up from 21% in 2019. Retailers like Aesop, Supply and Harrys have embraced the trend with products like face oil. beard and hair or shaving kits. Other categories such as home improvement, auto accessories, tools, sporting goods and hobby items have also gained popularity. These gifts also show the largest increase in spending since 2019.

Data on sales of Shopify Merchants in May provides additional details on why consumers might gravitate toward some of these categories for Father's Day this year. Our data shows that consumers gravitate toward gifts based on the recipient's hobbies and passions, said Harley Finkelstein, president of Shopify. This might include upgrading their grilling setup or getting Dad new equipment for his favorite outdoor activities like golf, tennis, biking, fishing or gardening.

Whatever Dad likes to do, it's clear he won't be disappointed this year. To learn more about the data behind NRF's Father's Day trends, visit our Father's Day headquarters.