Washington—The return of warmer weather, Spring breaks and especially Easter should help bolster retail sales this month…and it’s about time.
According to NRF’s Easter Spending Survey conducted by Prosper Insights & Analytics released today, the average American celebrating Easter will spend an average of $137.46 on apparel, food, candy, gifts and more, slightly less than the $145.13 spent last year. Total spending is expected to reach $15.9 billion.*
Boosting Apparel, Accessories Sales
Since the holiday traditionally marks the ceremonial start to spring, 42.9% will purchase new spring attire/accessories, such as bright Easter dress clothes for their children, spending an average of $22.71; 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)
“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/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.”
Though fewer Americans will celebrate this year (80.3% vs. 83% last year), families are still looking forward to their traditional Sunday meals. Those who do plan to celebrate will spend the most on a grocery bill for a family dinner or Sunday brunch out; according to the survey, 85.7% of those celebrating will spend an average of $43.18 on a holiday meal, totaling some $5 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 itemsthat won’t break the bank in order to enjoy the day.”
The survey also found that many will use smartphones or tablets to check off 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, yet only 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%).
About the Survey
The NRF 2014 Easter Spending Survey, conducted for NRF by Prosper Insights & Analytics was designed to gauge consumer behavior and shopping trends related to Easter spending. The poll of consumers was conducted from March 4 to 11. The consumer poll of 6,387 has a margin of error of plus or minus 1.3 percentage points. www.nrf.com.