Easter Spending Expected To Reach All-Time High
With Easter coming a few weeks later this year, holiday spending is expected to reach record highs.
Anna Serafin Smith with the National Retail Federation says their annual survey finds 80% of consumers will celebrate Easter, spending a record total of over $18 billion. That's a 6% increase over last year.
“It’s allowing consumers to enjoy a little bit warmer weather. So that encourages folks to go out and buy everything that they want to make it a very colorful and happy Easter,” Smith said.
Smith says customers will spend an average of $152 per person on Easter, including food, clothing, candy and gifts. She says 87 percent of shoppers will spend a combined nearly $6 billion on food. Clothing spending is at its highest level in a decade, with 50 percent of consumers planning to buy new Easter attire.
“Anything from Easter bonnets for little babies to brand new khakis for the boys so they can show up in their clean and perfect outfits for Easter Sunday,” Smith said.
Their report also finds 89 percent of consumers plan to spend a total of $2.6 billion on candy. A survey from Offers.com finds Reese’s egg are Louisianan’s favorite Easter candy. Sixty-one percent of shoppers plan to spend almost $3 billion on gifts for Easter. Smith says that’s because outside of Christmas, this is the only other holiday that allows the whole family to chip in.
“Grandparents are hosting the brunch, and so parents are coming in with all the gifts to celebrate Easter with the kids at grandparents’ home. It involves the entire family,” Smith said.