Easter Spending is on the Rise This Year
It has been a tough winter in New Jersey and with the Easter holiday approaching, many consumers are hopeful the holiday will bring with it more spring-like weather. With that said, many people are planning to dig a little deeper into their pockets this year for Easter decorations, candy, gifts, food and flowers, according to the National Retail Federation's Easter Spending Survey.
The survey found that the average person plans to spend $140.62, which is up slightly from last year's $137.46. Total spending is expected to reach $16.4 billion nationally.
"Easter will be the perfect segue into spring for both consumers and retailers who have longed for warmer weather for quite some time," NRF President and CEO Matthew Shay said in a press release. "As one of the busiest times of year for several retail sectors and as shelves begin filling with both traditional spring and holiday merchandise, retailers are looking forward to welcoming shoppers with attractive promotions on home goods, garden equipment and traditional Easter items."
In addition to spending on traditional Easter holiday items, many consumers plan to spruce up their spring wardrobes. According to the survey, 45 percent of those celebrating the holiday will purchase clothing, spending $2.9 billion on spring apparel. More people, about 85.7 percent, plan to buy food for a family meal.
"Retailers are looking to draw consumers in not only to buy Easter items, but to get their hands on that new, fresh spring merchandise," said Kathy Grannis, NRF spokesperson.
Other spending will include the following:
- $2.2 billion will be spent on candy;
- $2.4 billion will be spent on gifts;
- $1.1 billion on flowers;
- $998 million on decorations;
- $695 million on greeting cards.
While many people will be spending the day with friends and family, 15 percent will opt out of doing dishes and will head to a restaurant, while 24.1 percent will browse the web throughout the day looking for spring promotions.