NRF expects sales to hop up this Easter
WASHINGTON — While intentions aren't always equal to results, if NRF's predictions are correct, consumers will be shelling out quite a bit of cash this Easter. According to NRF’s Easter spending survey, conducted by BIGinsight, Americans will spend an average of $145.28 on everything from apparel and candy to food and decorations this year, up 11% from $131.04 last year. 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.”
Not surprisingly, the majority of Easter spending, according to the survey will be on candy, with 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. 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.
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.
Though most people will shop at their local discount store (63.5%), department stores can expect a nice treat this Easter as well. Four in 10 (42.6%) – and the highest percent in the survey’s history - will shop at a department store for gifts and other holiday merchandise. Online retailers will see the biggest jump in traffic this year, however. Nearly two in five (18.7%) will shop online, up from 14.8 percent last year and just 11.1 percent in 2008. Others will shop at specialty stores (25.4%) such as a jeweler, electronic store or florist, or a specialty clothing store (9.7%).
Now a common shopping tool for millions of Americans, more than half (52.3%) of tablet owners celebrating Easter will use their device to research products and purchase gifts and other merchandise. Specifically, 25.7 percent say they will purchase something and 36.6 percent plan to research products and compare prices. More than one-quarter (26.3%) will look up company and store information, such as store hours and location, and 15.3 percent will use apps to research and purchase products. Additionally, 43.3% of smartphone owners celebrating Easter will use their mobile device to research and/or purchase items.