In this episode of Retail Right Now, Total Retail's Ashley Chiaradio and Kristina Stidham discuss retail spending predictions for Father’s Day. The industry is already experiencing a resurgence in spending as consumers become more comfortable shopping in stores as the COVID-19 pandemic wanes. This purchasing surge will push Father’s Day spending to a record high of more than $20.1 billion, according to the National Retail Federation. This is an increase of over $3 billion from last year’s record figure of $17 billion.
A UPS survey found that 57 percent of respondents plan to celebrate Father’s Day in-person this year, signaling a return to family gatherings this summer. A new study from Smarty notes that half of Americans plan to shop Father's Day sales this year, and 69 percent plan to spend $100 or more. 2021 is turning out to be a banner year for dads. Retailers can look forward to a boom in sales this weekend as consumers celebrate Father’s Day.