Americans will spend more than EVER before for Father's Day gifts this year, but will concentrate much of that spending on experiences rather than merchandise.
The National Retail Federation (NRF) predicts spending of $15.5 billion, a new high. Individuals are expected to spend an average of $134.75, again, higher than last years $125.92.
Already got Dad a gift? Here's how your choices add up to the most popular picks for Father's Day, according the the NRF study:
More than $3 billion of the total will go toward such things as dinners out, concert or sporting tickets.
NRF President and CEO Matthew Shay believes that this holiday spending trend foreshadows strong consumer confidence heading into the second half of the year, across all markets. Shay adds that this weekend's sales are "...a good deal for all the dads who will reap the benefits."