July Fourth could see explosive consumer spending

A new survey indicates most consumers plan to celebrate the Independence Day holiday this year.

New data on Independence Day 2023 from market research company Numerator indicates that 87% of 2,600 surveyed U.S. consumers plan to celebrate the Fourth of July this year. This compares to 84% of surveyed consumers who planned to celebrate July Fourth in 2022 and 75% of surveyed consumers who planned to celebrate Memorial Day in 2023.

Almost all (94%) respondents plan to make a purchase for the Fourth of July, with food items at the top of shopping lists (83% plan to purchase), followed by alcoholic beverages (47%), non-alcoholic beverages (34%), decorations (22%), and party supplies (20%).

Two-fifths of respondents expect inflation or a potential economic slowdown to impact their 2023 Independence Day plans, and three-quarters are looking for ways to save money. This includes 52% of respondents planning to celebrate who say they will buy items on sale.

In addition, three in 10 (31%) will prepare budget-friendly foods, 27% will use more coupons, 20% will shop at dollar or discount stores, 16% will switch to store / private label brands, 11% will buy smaller items, and 9% will travel less.

The top celebration plan is watching fireworks (60% of respondents planning to participate), followed by grilling/barbecuing (58%) and attending or hosting a gathering/party (46%).

Other interesting findings include:

• When looking at purchase data, Numerator finds the week leading up to Independence Day typically shows significant week-over-week spikes for foods such as beef burgers and patties (+62% in 2022), hot dogs (+45%), deli salads (+33%), vegetable trays and mixed fresh vegetables (+28%), and potato chips (+19%).

• Among those respondents planning to buy alcohol, the top choice is beer (68% plan to purchase for this Fourth of July, compared to 62% in 2022), followed by wine (35% vs. 31%), ready-to-drink cocktails (27% vs. 23%) and spirits (27% vs. 23%).

Numerator’s Q2 2023 Holiday Preview survey was fielded to 2,650 consumers in April 2023 and highlights consumers’ celebration, shopping and spending plans for Cinco de Mayo, Mother’s Day, Memorial Day, Father’s Day, and Independence Day. Purchasing insights were compiled using Numerator’s 150,000-household Total Commerce Panel, looking at the week leading up to Independence day (July 27 – July 4, 2022) compared to the week prior (June 20-27, 2022) for beer and food sales.