With Father's Day due to be celebrated on 18 June, retailers are set to enjoy a pleasant boost.
Sales are set to edge up 0.6% year-on-year with increased spend driven by inflation, which last month hit a four-year high of 2.9%.
Research shows that Father’s Day rakes in less than half of the revenue raised for Mother’s Day.
This year, Mother’s Day retail sales hit £1.4bn, dwarfing the forecast figure for Father’s Day of £700m.
GlobalData retail analyst Eleanor Parr said: “As consumers’ disposable incomes become squeezed due to real wage declines, consumers will be more reluctant to allocate discretionary spend on occasions which are considered less important, therefore driving a volume decline in the market.
“Father’s Day spending will become a victim of this trend, with the slight increase in spend driven prominently by increased prices rather than shoppers’ willingness to upgrade their Father’s Day gift purchases this year.”
Food purchases are set to be the biggest beneficiary of cost inflation, with spend this Father’s Day expected to grow 1.4%.