Easter spending to be flat this year
Americans will celebrate Easter on a budget this year, according to the National Retail Federation.
Keeping cost and their shopping list in mind, the average person celebrating Easter will spend approximately $145.13 on candy, decor, apparel and food, flat with last year’s $145.28. Total spending will reach an estimated $17.2 billion. Easter is March 31.
“With a plethora of budgetary concerns already on their plates, Americans this Easter will look for special, creative ways to celebrate the holiday without breaking the bank,” said NRF President and CEO Matthew Shay.
“And as spring weather rolls in, consumers will find affordable ways to spruce up their homes and wardrobes, just in time for visiting family and friends this Easter holiday. Retailers are already lining their shelves with specials on chocolates, warm-weather apparel and even gardening tools and outdoor furniture.”
The survey found much of consumers’ budgets will go towards food for a family brunch or dinner: 86.9 percent of those celebrating Easter will spend an average of $45.26 on items needed for their holiday meal.
Traditionally known as the kickoff to spring, many will specifically set out to purchase new spring attire. Nearly half (48.4 percent) will purchase clothing this Easter, spending an average of $25.91 on bright new outfits for their children and even something new for themselves. And, nine in 10 (90.5 percent) will stock up on Easter candy, spending an average of $20.66 on jelly beans, chocolate and more. Additionally, consumers will spend an average of $20.82 on gifts, $9.49 on flowers and $9.11 on decorations.
When it comes to where people will shop for their Easter needs, the survey found families will shop for price and value. Most people (63.4 percent) will shop at discount stores and four in 10 (40.7 percent) will shop at their favorite department store. Others will shop at specialty stores (24.9 percent), online (21.1 percent) and specialty clothing stores (10.6 percent).
“While many of today’s consumers are coping with tight budgets, the Easter Bunny isn’t headed toward retirement in 2013,” said BIGinsight Consumer Insights Director Pam Goodfellow. “Look for cost-conscious parents to scope the sale racks, head to discounters, and clip coupons to keep spending on track — and to make the holiday special for youngsters this year.”