Jun 8, 2011

Father’s Day shopping, spending on the riseBy Cara Baruzzi

Despite an economy that still has many watching their wallets, consumers plan to spend more money celebrating Father’s Day this year than they have in recent years, according to a National Retail Federation survey.

The trade group found that consumers nationwide plan to spend an average of $106.49 celebrating the June 19 holiday, up from $94.32 last year. This year’s spending level is the highest in the survey’s eight-year history.

“Spending on dad has taken a backseat for the past few years, but some kids and wives are planning to make up for lost time this Father’s Day,” Matthew Shay, president and CEO of the National Retail Federation, said in a statement.

“Shoppers seem to be more excited when it comes to gift giving, an encouraging sign for retailers — and dads — everywhere,” he said.

Total Father’s Day spending is expected to reach $11.1 billion nationwide.

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