NRF Says Later Easter Expected to Bring Record Spending
WASHINGTON–(BUSINESS WIRE)–#nrfnews–Americans will spend more than ever as they celebrate Easter nearly
three weeks later this year than last, the National Retail Federation
said today. According to NRF’s annual survey conducted by Prosper
Insights & Analytics, spending for Easter is expected to reach $18.4
billion, up 6 percent 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 percent from last year’s
previous record of $146.
“Most consumers have almost an entire extra month to shop for Easter
this year, and by the time the holiday comes the weather should be
significantly warmer than last Easter,” NRF President and CEO Matthew
Shay said. “That should put shoppers in the frame of mind to splurge on
spring apparel along with Easter decorations. With the economy
improving, consumers are ready to shop and retailers are ready to offer
great deals whether they’re buying Easter baskets or garden tools.”
According to the survey, consumers will spend $5.8 billion on food
(purchased by 87 percent of shoppers), $3.3 billion on clothing (50
percent), $2.9 billion on gifts (61 percent), $2.6 billion on candy (89
percent), $1.2 billion on flowers (39 percent), $1.1 billion on
decorations (43 percent) and $788 million on greeting cards (48 percent).
The 50 percent of consumers planning to buy clothing is up from 45
percent last year and is the highest level in a decade while the $3.3
billion expected to be spent is up 9 percent from last year.
With shopping lists in hand, 58 percent of consumers will head to
discount stores, 46 percent will go to department stores and 26 percent
will shop at local small businesses. In addition, 27 percent will shop
online, up from 21 percent last year. Among smartphone owners, 28
percent will research products on their devices while 18 percent will
use their phones to make a purchase, while another 9 percent will use
apps to do their research or purchase products.
“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,” Prosper Principal Analyst Pam Goodfellow said. “With the
later timing of Easter, we will see more consumers shopping for special
deals, especially on apparel and decorations.”
Consumers plan to celebrate Easter in several different ways: 61 percent
will visit family and friends, 57 percent will cook a holiday meal, 52
percent will go to church and 17 percent will go to a restaurant.
Children will have plenty to look forward to after the Easter Bunny
arrives: 35 percent of consumers will have an Easter egg hunt and 16
percent will open gifts. In addition, some consumers will celebrate with
more leisurely activities: 43 percent will watch TV, 10 percent will
shop online and 9 percent 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. Full data results will not be published on NRF.com
but news media and analysts who require additional information can
contact press@nrf.com.
About Prosper Insights & Analytics
Prosper Insights & Analytics delivers executives timely,
consumer-centric insights from multiple sources. As a comprehensive
resource of information, Prosper represents the voice of the consumer
and provides knowledge to marketers regarding consumer views on the
economy, personal finance, retail, lifestyle, media and domestic and
world issues. www.ProsperDiscovery.com
About NRF
NRF is the world’s largest retail trade association, representing
discount and department stores, home goods and specialty stores, Main
Street merchants, grocers, wholesalers, chain restaurants and Internet
retailers from the United States and more than 45 countries. Retail is
the nation’s largest private sector employer, supporting one in four
U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to
annual GDP, retail is a daily barometer for the nation’s economy.
Contacts
National Retail Federation (NRF)
Ana Serafin Smith (855) NRF-PRESS
PRESS@NRF.com
