Father’s Day spending expected to hit $20 billion

(KYMA, KECY/ CNN) - Father's Day is coming up this weekend and a new report indicates it could be a record in terms of how much people spend on gifts and other items for dad.

The National Retail Federation is predicting that consumers will shell out upwards of $20 billion.

That would be the most Father's Day spending on record and considerably more than the amount of $17 billion spent last year in 2020.

The National Retail Federation also says those surveyed are planning to spend an average of $174 on Father's Day items.