Survey: Americans will hop to spend $16.4B this Easter
Most Americans plan to stock up on food and clothing for the Easter holiday, according to the National Retail Federation.
NRF’s Easter Spending Survey conducted by Prosper Insights & Analytics reports that the average person celebrating Easter will spend $140.62, slightly more than last year’s $137.46. Total spending for Easter, which includes purchases of apparel, decorations, gifts, candy, food, flowers and more, is expected to reach $16.4 billion.
“Easter will be the perfect segue into spring for both consumers and retailers who have longed for warmer weather for quite some time,” said NRF President and CEO Matthew Shay. “As one of the busiest times of year for several retail sectors and as shelves begin filling with both traditional spring and holiday merchandise, retailers are looking forward to welcoming shoppers with attractive promotions on home goods, garden equipment and traditional Easter items.”
Consumers this year will use Easter as a chance to spruce up their spring wardrobes. According to the survey, 45% of those celebrating will purchase clothing, spending more than $2.9 billion on bright-colored apparel items for themselves and their families.
However, more people plan to buy food for the holiday: 85.7% will purchase food for a family meal or other festivity, spending more than $5.3 billion on Easter fare. Children and sweet-tooth craving adults will also purchase candy this Easter: 87.1% of those celebrating say they will buy candy, spending more than $2.2 billion on jelly beans, chocolate bunnies and flavorful chick-shaped Peeps.
Consumers this holiday will also spend $2.4 billion on gifts, $1.1 billion on flowers, $998 million on decorations and $695 million on greeting cards. With a laundry list of items to buy, 58.6% will head to discount stores to purchase their holiday merchandise. Another four in 10 (40.7%) will shop at department stores, while nearly one-quarter (23.8%) plan to shop at a local or small business. Additionally, 21.8% will head to a specialty store like a florist or jewelry store and 18.8% will shop online.
“Easter remains a beloved affair for consumers young and old, and this year it looks like families are ready to dig into their budgets to make the most of the special day,” said Prosper’s Principal Analyst Pam Goodfellow. “The warm weather should help fuel some interest in celebrations, especially given the record-breaking winter much of the country experienced the last several months.”
The NRF 2015 Easter Spending Survey conducted for NRF by Prosper Insights & Analytics was designed to gauge consumer behavior and shopping trends related to Easter spending. The poll of consumers was conducted from March 3-10, 2015. The consumer poll of 6,106 has a margin of error of plus or minus 1.3 percentage points.