According to BIGresearch and the Nation Retail Federation, consumers are anticipated to spend up to $9 billion this year on Father's Day gifts-- a spike compared to last year's $8.2 billion. 

BIGresearch found that the average person will spend an expected $88.80 on a Father's Day present, compared to $112.16 the average person spent for Mother's Day.

This year a majority of Father's Day gift buyers are anticipated to shop in department and specialty stores (32 and 30 percent respectively) and online (15 percent).

"Because retailers across all channels and formats have something to gain from Father's Day spending, we expect the holiday to be quite promotional this year," says National Retail Federation President Tracy Mullin.