The National Retail Federation (NRF) forecasts that Americans will be spending more at retail this Easter than ever before.
In a statement released by the NRF last week, the retail trade association shared results from its annual Easter survey, conducted by Prosper Insights & Analytics.
Some quick hits from the report:
– Spending for Easter is expected to reach $18.4 billion, up 6 percent from last year’s record $17.3 billion and a new all-time high in the survey’s 14-year history.
– Those celebrating plan to spend an average of $152 per person, up 4 percent from last year’s previous record of $146.
– Consumers will spend $5.8 billion on food (purchased by 87 percent of shoppers), $3.3 billion on clothing (50 percent), $2.9 billion on gifts (61 percent), $2.6 billion on candy (89 percent), $1.2 billion on flowers (39 percent), $1.1 billion on decorations (43 percent), and $788 million on greeting cards (48 percent).
– Fifty-eight percent of consumers will shop at discount stores, 46 percent will go to department stores, and 26 percent will shop at local small businesses.
– Twenty-seven percent of consumers will shop online, up from 21 percent last year. And among smartphone owners, 28 percent will research products on their devices, while 18 percent will use their phones to make a purchase.
“Most consumers have almost an entire extra month to shop for Easter this year, and by the time the holiday comes the weather should be significantly warmer than last Easter,” stated NRF president and CEO Matthew Shay in the statement. “That should put shoppers in the frame of mind to splurge on spring apparel along with Easter decorations. With the economy improving, consumers are ready to shop, and retailers are ready to offer great deals, whether they’re buying Easter baskets or garden tools.”
The survey polled 7,411 consumers about their Easter Sunday plans and was conducted March 1–9. It has a margin of error of plus or minus 1.2 percentage points.
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