By Elyse Desmarais on June 15, 2016
Father’s Day is this coming Sunday. So if you weren’t already aware, you’re welcome. According to the recent Brand Keys Father’s Day survey, this year will be more expensive than the last for most Americans as they plan to increase their budgets on gifts. While 2015 brought a 3% increase in gift spending, 2016 will double that number with a 6% increase in spending. Dads can expect to see a varity of gifts from their children, ranging anywhere from giftcards to wine and spirits.
On average, consumers are set to spend $157.00 on gifts for dad this year. This year’s most popular gifts will include:
Gift cards 40%
Wine and spirits 15%
Home improvement 15%
Sporting goods 14%
Spa services 10%
Clothing, wine and spirits all saw increases from 2015, while other categories stayed relatively the same. This year’s survey also found shopping online for gifts is a growing trend, while shopping at department stores is in decline.
Moms were equally as lucky as dads this year, with consumer spending increasing equally on Mother’s Day gifts.
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