Consumer Payment Card News

Daddy's Day

Nearly two-thirds of Americans, mostly females, will be shelling out less than $25 for a Father’s Day gift this weekend. Historically, dads have always gotten the short end of the stick. Last month, most American men spent an average of $45 for Mother’s Day gifts. American consumers consistently spend more for Mother’s Day purchases than they do for either Father’s Day or Valentine’s Day. A new survey from Texas-based Money Management International found that nearly 90% of its respondents, 69% of which were women, will use cash to buy a Dad’s Day gift this weekend. Other surveys have shown consumers, mostly men, use credit cards extensively for Mother’s Day. From a gender perspective, men were the big spenders on mom. Men outspend women by more than 60% with an average of $45.40 spent on a Mother’s Day gift, with women parting with only $28.60 per gift for mother.

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