|NRF: Easter shopping to tap into ‘pent-up demand’|
|Written by Jeremy Burns|
|Thursday, 10 April 2014 09:51 AM EDT|
Consumers are expected to spend billions on Easter celebrations this year, though per-customer levels may be lower than in 2013. The average American celebrating the holiday will spend an average of $137.46 on apparel, food, candy, gifts and more, slightly less than the $145.13 spent last year, according to the National Retail Federation’s (NRF) Easter Spending Survey conducted by Prosper Insights & Analytics. Total spending is expected to reach $15.9 billion.
“The winter doldrums left consumers with a lot of pent-up demand, and though many Americans may take a cautious approach to spending on Easter items this year, retailers are anticipating that warmer weather will easily put consumers in the mood to buy bright clothes, holiday decorations and more,” said NRF President and CEO Matthew Shay. “As one of the biggest holidays of the year, retailers are looking forward to increased customer traffic in stores and online, and will roll out promotions on everything from garden supplies and patio sets to apparel and grocery items as they help their customers prepare for the holiday.”
Since the holiday traditionally marks the ceremonial start to spring, 42.9% will purchase new spring attire, such as Easter dress clothes for their children, spending an average of $22.71, with total spending on apparel is expected to reach $2.6 billion. Additionally, nine in 10 (89.3%) of those celebrating will stock up on Easter candy, spending a total of $2.2 billion on their children’s favorite sweet treats. Families will also spend on gifts ($2.4 billion), flowers ($1.1 billion) and decorations ($1.1 billion).
“Americans are eager to dip their toes in the fresh green grass this Easter and celebrate the day with friends and family,” said Prosper Insights and Analytics Director Pam Goodfellow. “Though they are planning to trim their budgets in terms of spending on food, clothes and gifts, most will look for personal and fun items that won’t break the bank in order to enjoy the day.”
The survey also found that many will use smartphones or tablets to work on their Easter shopping list. Of those who own smartphones, nearly one in four (23.4%) will use their device to research products or compare prices. Just 12.2% will make an actual purchase with their smartphone. Nearly one in five (19.2%) tablet owners will make a purchase on their device, but most will simply research holiday gifts, apparel and other items (30.2%).