Forecast • 21.03.2016

NRF: Easter spending will reach 17.3 billion dollars

Those celebrating plan to spend an average of 146 dollars per person, according to the survey.

Ready to celebrate spring with friends and family, Americans anticipate spending more than ever on Easter this year. According to the National Retail Federation’s annual Easter Spending Survey conducted by Prosper Insights and Analytics, spending for the holiday is expected to reach $17.3 billion.

That’s the highest level in the 13 years the survey has been conducted and up significantly over last year’s $140.62 per person and $16.4 billion total.

“Retailers are beginning one of their busiest times of year and are more than ready as consumers shop for spring essentials,” NRF President and CEO Matthew Shay said. “Shoppers will find promotions on a number of items on their lists, from Easter baskets to sports equipment, home goods, garden tools and more.”

Photo
Source: NicoLeHe/pixelio.de

According to the survey, consumers will spend $5.5 billion on food, $3 billion on clothing, $2.7 billion on gifts, $2.4 billion on candy and $1.2 billion on flowers.

With shopping lists in hand, 58.4 percent of consumers will head to discount stores, 41.4 percent will go to department stores and 24.7 percent will shop at local small businesses. Not everyone will make it to stores: 21.4 percent will shop online, up from 18.8 percent last year. Among smartphone owners, 22.8 percent will research products on their devices while 14.9 percent will use their phones to make a purchase.

“Easter is a traditional holiday that consumers of all ages and on all budget levels celebrate with family and friends,” Prosper Principal Analyst Pam Goodfellow said. “Consumers have longs lists of items they need to get their spring off to a good start. Smart shoppers plan to compare prices, research the items on their lists and take advantage of promotions on things like apparel and candy.”

Consumers celebrate Easter in a number or different ways: 57.8 percent will visit family and friends, 55.6 percent will cook a holiday meal, 51.3 percent will go to church and 15.6 percent will go to a restaurant. Children have plenty to look forward to after the Easter Bunny comes: 31.4 percent of consumers plan an Easter egg hunt and 13.9 percent will open gifts.

The survey of 7,264 consumers was conducted March 1-8 and has a margin of error of plus or minus 1.2 percentage points.

Source: NRF

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