As Easter approaches, a survey from the National Retail Federation (NRF) indicates consumer spending will be high for the holiday.
The NRF and Prosper Insights & Analytics released a new survey last Thursday, with an impressive projected consumer spending figure of $22.4 billion this Easter. The number represents the second highest in the survey’s history, following last year’s record $24 billion.
According to the survey, much like previous years, most Americans (81%) plan to celebrate the holiday, with food taking the top spending spot at $7.3 billion, followed by clothing ($3.5 billion), gifts ($3.4 billion), candy ($3.1 billion), and flowers ($1.6 billion). Even 55% of those who don’t plan to celebrate the holiday have plans to take advantage of sales.
Top destinations to get Easter gifts include discount stores (53%), department stores (40%), online (33%), local/small businesses (22%), and specialty stores (22%).
“Each year, Americans look forward to the celebration of Easter and the renewal of time and traditions with loved ones,” says NRF President and CEO Matthew Shay. “Retailers understand the importance of this holiday and are ready to help their customers find the items they want and need at affordable prices.”
The NRF surveyed 8,372 adults in the U.S. from March 1-6 and has a margin of error of plus or minus 1.1 percentage points. For more information about the NRF and the full survey data, visit the official webpage.
