Depending on a wide array of variables, you might be on the hook for dozens of Father’s Day presents or cards over the course of a lifetime. Everyone can forgive a little repetition. But in a year with added financial pressures from inflation of gas prices and consumer goods, supply chain crunch, and bearish economic sentiment, have Americans’ Father’s Day shopping plans changed much, if at all?
CivicScience is tracking numerous Father’s Day consumer habits, from spending comfort levels to the most popular genres of gift-giving this year. More than one-quarter of Father’s Day shoppers plan to buy dad a watch or comparable personal item, with nearly as many opting for a meal out.
Tools, electronics, and personal items are significantly more popular with Gen Z and Millennial gift-givers than with the elder generations — perhaps pulling out all stops for their earlier decades of gift-giving. Respondents 55-and-older are more likely than any other age group to opt for dining out rather than a tangible gift.
More than two-in-five Father’s Day gift-givers will spend under $50 on the season — and three-quarters of all kids will spend under $100 on gifts. Expect inflation to impact shopping habits, but not equally for everyone: nearly two-thirds of Americans clocking in at “somewhat concerned” about inflation will spend under the $50 mark, which well outpaces the Gen Pop. Nearly 10% of those “very concerned” about inflation intend to shell out an excess of $1,000 for their fathers this year — reflecting a chasm in concern and spending habits for some.
That said, just under one-quarter of Father’s Day shoppers plan to spend less this year than they typically would. Among those “very concerned” about inflation, that figure jumps to 28%, but 11% of that subgroup — who might overlap with the 9% above spending more than $1,000 on Father’s Day — are still spending more on gifts this year. Americans who aren’t concerned at all about inflation should pull some heavy lifting, as they’re 70% more likely than the Gen Pop to spend more than in a typical year.
So despite the increasingly fraught economic conditions, a vast majority of Americans — 78% — will spend the same or more than a typical year this Father’s Day. Consumers are certainly feeling the shocks from record-high gas prices, skyrocketing rents, and grocery prices, but for now, they largely aren’t letting it impede their shopping plans for dad.