• June 2, 2009

Americans are likely to spend a little less celebrating dear old dad this year, and a new survey from the National Retail Federation reports that those who are buying gifts will spend an average of $90.89 this year, down from $94.54 last year.

Total spending is expected to come in around $9.4 billion. "Along with the usual ties, gift givers will be looking into items that dad can enjoy with the whole family," the NRF predicts. "Retailers will offer specials on new grill sets, sporting and gardening equipment and even electronics as the holiday rolls around."

Unlike Mother's Day, which inspires many to give gifts to several important women in their lives, the majority of consumers (51.1%) will buy gifts only for the dads or stepdads.--Sarah Mahoney