Candy, other holiday spending will increase this year, says NRF
Published in CSP Daily News
WASHINGTON -- Americans will shell out an average of $145.28 on everything from apparel and candy to food and decorations this year, up 11% from $131.04 last year, according to NRF's Easter spending survey, conducted by BIGinsight. Total spending is expected to reach $16.8 billion.
"Though the price of gas is on everyone's mind, Easter is one of the few holidays some consumers are willing to stretch their budgets, especially because many children look forward to treats and new outfits on Easter morning," said NRF president and CEO Matthew Shay. "Retailers will make sure to offer plenty of promotions on candy, apparel, food and decorations in the coming weeks for eager holiday shoppers."
According to the survey, those celebrating Easter have a hefty appetite for candy and new spring clothes. Nearly half (48.5%) will head to the stores to take advantage of retailers' spring sales on colorful fashions and accessories, with total spending on those items expected to reach $3 billion. Most though, will head straight to the candy aisle (89.3%), shelling out more than $2 billion on traditional favorites such as chocolate eggs and jelly beans. The average person will spend more on these items as well: $26.11 on apparel, up from $21.51 last year, and $20.35 on candy, up from $18.55 last year.
Americans are also set to fork over more on their Easter meals with the average person expected to spend $44.34, up from $40.05 last year for a total $5.1 billion. Additionally, consumers will spend an average of $20.57 on gifts for their friends and family, $10.50 on flowers and $9.07 on decorations for their home and office. Half (53.6%) will buy greeting cards, spending an average of $7.04.
(See File Attachments below for complete survey results.)
As the world's largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs--42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation's economy.