LANSING, Mich. (WLNS) — A survey on Father’s Day from the National Retail Federation says nearly two-thirds of people have noticed seeing higher prices in 2022.
Despite the higher prices, shoppers plan on spending $20 billion dollars on their dad’s this year. In 2021, shoppers spent $20.1 billion on dads this year.
There’s good news and bad news: inflation is taking a chunk out of gift budgets, but this year’s spending is up $3 billion since 2020, and nearly $5 billion since 2018.
Americans spend an average of $171.79 on dads and father figures.
Around 44% of shoppers say that they plan to find a gift that is unique, and 37% say they plan on giving a gift that creates a special memory.
No matter what you plan to give, if you haven’t gotten it already- get to shopping.