FOR IMMEDIATE RELEASE June 7, 2022
Contact: Bryan Wachter Senior Vice President of Government and Public Affairs (775) 771-8969 | Bryan@RANNV.org
Father’s Day Sales Projected to Reach Record High of $322.5 Million Nationwide Spending Expected to Reach $20 Billion Each June, spouses and children come together to celebrate and thank the fathers and other important men in their lives for all they do on a daily basis. This Father’s Day, consumers across the Silver State are projected to spend a record $322.5 million on clothes, home improvement supplies, electronics and other dad-centric gifts, according to the Retail Association of Nevada (RAN). Shopping across the United States for Father’s Day is expected to reach $20.0 billion, with 76.0 percent of Americans celebrating and spending an average of $171.79, according to a recent survey by the National Retail Federation (NRF). Overall spending levels are nearly flat from last year as spending per celebrant decreased 1.3 percent. Inflation is a factor this year as 64.0 percent of consumers surveyed by NRF reported that they were seeing higher prices compared to a year ago. “Nevada’s retailers are continuing to see strong consumer spending trends as we move into the summer months,” said Bryan Wachter, Senior Vice President of RAN. “Despite months of retailers putting pressure on their supply chains and taking major cuts to their profit margins to keep prices low, a majority of consumers surveyed are reporting noticeable price increases compared to last year.” According to the NRF survey, greeting cards were the most popular gift for dad this year, with 58.0 percent of survey respondents planning to spend a total of $13.9 million in Nevada. Clothing and accessories came in as the second most-popular choice with 50.0 percent of participants planning to purchase, which would result in nearly $50.0 million in consumer spending. Other popular gifts are a special outing (48.0 percent), gift cards (46.0 percent) and personal care (28.0 percent), with consumers in the Silver State projected to spend $60.6 million, $43.2 million and $22.4 million, respectively. Other top gifts for Father’s Day include consumer electronics (24.0 percent), home improvement/gardening supplies (23.0 percent), tools or appliances (23.0 percent), books or CDs (23.0 percent), automotive accessories (22.0 percent) and sporting goods or leisure items (21.0 percent). 1 of 2