The news: Consumers are expected to spend $27.9 billion on Father’s Day this year, a 16.3% increase over the record $24 billion set last year, per a survey by the National Retail Federation and Prosper Insights & Analytics. Average spending is projected to reach $226.58, up 13.6% YoY.

Why it matters: Despite macroeconomic pressures, consumers remain willing to spend during holidays and other key tentpole moments.

• Mother’s Day spending was expected to reach a record $38 billion this year, up 11.4% YoY and well above the previous high of $35.7 billion set in 2023, per the NRF and Prosper.
• Retailers are also preparing for other major seasonal events, with Spirit Halloween planning to open 1,500 stores across the US and Canada and hire 52,000 workers—2,000 more than last year—per Chain Store Age.
• Interest in promotional events remains strong as well, with 55% of consumers planning to shop during Amazon’s Prime Day, up from 45% last year, per Omnisend, and we expect Amazon’s US Prime Day sales to rise 7.1% YoY to $15.68 billion.

Implications for retailers and marketers: Only a handful of moments during the year reliably drive outsize consumer spending, which makes them difficult to ignore. Retailers should look for ways to build campaigns around these events—from Father’s Day to the Fourth of July—while also aligning with major promotional moments like Prime Day.