10 Apr Easter spending expected to fall this year, NRF says
Visions of Easter bunnies and warmer weather — at last — have consumers getting into the shopping spirit, but spending for the holiday is still expected to dip compared to last year, the nation’s largest retail trade group said Wednesday.
Total spending on Easter-related items is expected to reach $15.9 billion this year, down from last spring’s forecast of $17.2 billion, according to the National Retail Federation’s annual Easter Spending Survey. The average American who celebrates the holiday is expected to spend an average of $137.46, down from $145.13 last year.
Most of the bill goes to Sunday brunch out or groceries for a family holiday dinner, costing an average of $43.18., with the rest spent on new spring attire, candy, gifts, flowers and decorations.
“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,” NRF President and CEO Matthew Shay said in a press release.
Eighty percent of Americans are expected to celebrate Easter this year, down from 83 percent last year, according to the poll of 6,387 people, which was conducted for NRF by Prosper Insights Analytics.