The NRF’s study shows that Father’s Day could bring in $15.3 billion for retailers this year, with close to 77 percent of Americans celebrating and spending an average of $133 per person. These numbers would fall just short of last year’s $15.5 billion, the highest in the 15-year history of the survey.
“We are pleased to see consumer confidence continue to rise, leading to another near-record holiday spend on Father’s Day,” says NRF President and CEO Matthew Shay. “Leading into the second half of the year, Americans are looking forward to treating their dads and retailers will be prepared to offer a variety of gift options that will create new memories on this special day.”
Many of these shoppers will be seeking food options to satisfy the fathers in their lives. Bakeries provide an excellent opportunity for gift giving this time of year, as sweet and savory treats are easy to shop for and even easier to enjoy.