Fox Family Edge: Father's Day Spending

Published 06/12 2014 08:33AM

Updated 06/12 2014 08:37AM

(CNN) -- The first Father's Day was celebrated in 1910, but wouldn't be proclaimed a national holiday for another 50 years. Over the last century, gifts honoring dads have become big business during the summer retail season, and Father's Day spending is expected to hit $12.5 billion this year according to a consumer survey by the National Retail Federation.

The average person will spend $113.80 cents on dad, which is down about five percent from last year. Among the most popular gifts:
Americans will spend about $2.5 billion on a special day out, like dinner or tickets to a ball game, $1.8 billion on apparel, like the old favorite, the tie, another $1.8 billion on gift cards, so dad can choose his own gift, and $1.6 billion on electronics.

It's also the fourth biggest holiday for greeting cards, with 87 million of them exchanged each year. Half are purchased for dads, almost 20 percent for husbands, and the rest for other special guys like grandfathers, sons, brothers and uncles.

It all seems like big spending, but it's not as much as what's spent on mom. This year Mother's Day spending was expected to reach $19.9 billion.

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