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Father's Day Spending Could Reach $15.3 Billion This Year

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PHILADELPHIA (CBS) - Father's day is this Sunday, and people are expected to be spending a lot of money on it this year.

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Father's Day Spending this year is likely in record territory, according to experts. Experts say spending on Father's Day this year could reach $15.3 billion.

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The report by the National Retail Federation says a total of 77 percent of Americans will celebrate Father's Day and spend an average of $133 per person. The biggest spenders are between the ages of 25 and 34, and they'll spend about $188 per person.

They say clothing, gift cards and electronics are at the top of the gift list.

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