According to the National Retail Federation, Americans are expected to spend $13 billion on Father’s Day this year. That might seem like a lot, but it is just a fraction of the $21 billion we were expected to spend on Mother’s Day.
So, why does Mom always win out?
Mothers are more likely get cards than fathers – 80 percent versus 62 percent. She’s also more likely to get pricier gifts an average of $173 for moms and $116 for dads.
“Mom had us, she gave birth, labor is worth extra points,” Mall of America trend expert Sara Rogers said.
The origin of Mother’s Day dates back to the Greek and Roman eras. The United Kingdom started celebrating it in the 1600s, and it became an official U.S. holiday in 1914.
Father’s Day was first celebrated in the U.S. in 1910, but didn’t become an official holiday until 1972.
“Back in the day, there were more traditional roles with mom and dad,” Rogers said. “So, I think moms are being recognized. It’s not to say that dads aren’t doing a good job, it’s just that mom tends to be there all the time.”
According to the National Retail Federation, the top gifts for fathers are an outing or activity ($55) followed by clothes ($40). For mothers, it’s flowers ($29), clothes ($45) and jewelry ($102).
Other experts say fathers could also be the victim of bad timing.
“After splurging on mom and graduates this year and recognizing that dad is a little more laid back when it comes to celebrations and gifts, consumers will keep spending similar to about what they spent last year on Father’s Day,” Prosper’s Principal Analyst Pam Goodfellow said.
Rogers says as more dads step up with childcare and housework, she won’t be surprised if that retail gap closes a little.
Now, we want to hear from you! Would like to share your opinion or make a comment on the Unlock Your Wealth Radio Show? If so, then please leave your comment or questions in the space provided below and share this article with your friends and family on Facebook and Twitter. Your comments or question could be chosen as our featured Money Question Monday and a phone call by financial expert Heather Wagenhals could dial your way to be live on the Unlock Your Wealth Radio Show.