This spring, Americans are expected to spend $16.8 billion for the Easter holiday, with the average consumer shelling out $145.28 on everything from apparel and candy to food and decorations. That average represents an 11 percent increase from $131.04 last year, according to NRF’s Easter spending survey, conducted by BIGinsight.
“Though the price of gas is on everyone’s mind, Easter is one of the few holidays some consumers are willing to stretch their budgets, especially because many children look forward to treats and new outfits on Easter morning,” says NRF president and ceo Matthew Shay. “Retailers will make sure to offer plenty of promotions on candy, apparel, food and decorations in the coming weeks for eager holiday shoppers.”
According to the survey, nearly half of shoppers (48.5 percent) will head to the stores to take advantage of retailers’ spring sales on fashions and accessories, with total spending on those items expected to reach $3.0 billion. The average person will spend more on these items as well: $26.11 on apparel, up from $21.51 last year, and $20.35 on candy, up from $18.55 last year. Additionally, consumers will spend an average of $20.57 on gifts for their friends and family, $10.50 on flowers and $9.07 on decorations for their home and office.
Among the retailers benefitting from this shopping spree are local discount stores, where 63.5 percent of shoppers said they’ll go, while 42.6 percent (the highest percent in the survey’s history) will shop at a department store for gifts and other holiday merchandise. Online retailers are expected to see the biggest jump in traffic this year, with 18.7 percent of consumers shopping online, up from 14.8 percent last year.
“Beautiful weather conditions coupled with a slight lift in consumer confidence will likely be a boon to the Easter holiday this year as consumers begin to seek out new spring merchandise for their home or garden, and even their wardrobe,” says BIGinsight consumer insights director Pam Goodfellow. “It remains to be seen though, if this spending momentum will carry into the coming months with the cost of fueling up on the rise.”