|NRF: Significant spending boost expected this Easter|
|Written by Taylor Berglund|
|Monday, 21 March 2016 11:28 AM America/New_York|
Americans anticipate spending more than ever on Easter this year. Spending for the holiday is expected to reach $17.3 billion, according to the National Retail Federation (NRF)’s annual Easter Spending Survey, conducted by Prosper Insights and Analytics.
Those celebrating plan to spend an average of $146 per person, according to the survey. That’s the highest level in the 13 years the survey has been conducted and up significantly over last year’s $140.62 per person and $16.4 billion total.
Matthew Shay, president and CEO of NRF, said Easter was one of the busiest holidays for retailers.
“Retailers are beginning one of their busiest times of year and are more than ready as consumers shop for spring essentials,” Shay said. “Shoppers will find promotions on a number of items on their lists, from Easter baskets to sports equipment, home goods, garden tools and more.”
According to the survey, consumers will spend $5.5 billion on food, $3 billion on clothing, $2.7 billion on gifts, $2.4 billion on candy and $1.2 billion on flowers.
With shopping lists in hand, 58.4 percent of consumers will head to discount stores, 41.4 percent will go to department stores and 24.7 percent will shop at local small businesses. Not everyone will make it to stores; the survey predicts 21.4 percent will shop online, up from 18.8 percent last year. Among smartphone owners, 22.8 percent will research products on their devices, while 14.9 percent will use their phones to make a purchase.
Pam Goodfellow, principal analyst for Prosper, commented on consumer behavior during the Easter season.
“Easter is a traditional holiday that consumers of all ages and on all budget levels celebrate with family and friends,” Goodfellow said. “Consumers have long lists of items they need to get their spring off to a good start. Smart shoppers plan to compare prices, research the items on their lists and take advantage of promotions on things like apparel and candy.”
Consumers celebrate Easter in a number or different ways: 57.8 percent will visit family and friends, 55.6 percent will cook a holiday meal, 51.3 percent will go to church and 15.6 percent will go to a restaurant. Children have plenty to look forward, given that 31.4 percent of consumers plan an Easter egg hunt and 13.9 percent will open gifts.
The survey of 7,264 consumers was conducted March 1-8 and has a margin of error of plus or minus 1.2 percentage points.