Easter Spend Predictions

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If you have clients that see Easter related business but haven't seen annual upticks, The Center For Media Research reports that this year things should be different...

"According to the National Retail Federation annual survey, conducted by Prosper Insights & Analytics, Americans will spend more than ever as they celebrate Easter nearly three weeks later this year than last. Spending for Easter is expected to reach $18.4 billion, up 6% over last year’s record $17.3 billion and a new all-time high in the survey’s 14-year history. Those celebrating plan to spend an average of $152 per person, up 4% from last year’s previous record of $146.

NRF President and CEO Matthew Shay said. “… by the time the holiday comes the weather should be significantly warmer than last Easter… putting shoppers in the frame of mind… splurge on spring apparel… (and) Easter decorations…”

According to the survey, consumers will spend:

• $5.8 billion on food (purchased by 87% of shoppers)
• $3.3 billion on clothing (50%)
• $2.9 billion on gifts (61%)
• $2.6 billion on candy (89%)
• $1.2 billion on flowers (39%)
• $1.1 billion on decorations (43%)
• $788 million on greeting cards (48%)

Consumers planning to buy clothing is up from 45% last year and is the highest level in a decade, says the report, while the $3.3 billion expected to be spent is up 9% from last year.

With shopping lists in hand:

• 58% of consumers will head to discount stores
• 46% will go to department stores
• 26% will shop at local small businesses
• 27% will shop online, up from 21% last year

Among smartphone owners:

• 28% will research products on their devices
• 18% will use their phones to make a purchase
• 9% will use apps to do their research or purchase products

Prosper Principal Analyst, Pam Goodfellow, said “…Easter continues to be a traditional holiday for consumers of all ages, especially young families who are planning to spend a bit more for this celebration… more consumers (will be) shopping for special deals, especially on apparel and decorations…”

Consumers plan to celebrate Easter in several different ways:

• 61% will visit family and friends
• 57% will cook a holiday meal
• 52% will go to church  
• 17% will go to a restaurant
• 35% of consumers will have an Easter egg hunt
• 16% will open gifts
• 43% will watch TV,
• 10% will shop online
• 9% will head to the movies or shop in a store

The survey, which asked 7,411 consumers about their Easter Sunday plans, was conducted March 1-9 and has a margin of error of plus or minus 1.2 percentage points.

For more information from Prosper, please visit here."