Projected Easter Spending to Jump Past $17 Billion: NRF
The following article is based on a press release published by the National Retail Federation on March 18, 2013.
March 18, 2013 – Total consumer spending this Easter will reach an estimated $17.2 billion, according to the National Retail Federation (NRF) 2013 Easter Spending Survey, conducted by BIGinsight. Consumers will spend approximately $145.13 on candy, décor, apparel, and food, including an average of $20.82 on gifts, such as toys. The NRF’s projected figures are flat with Easter 2012.
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“With a plethora of budgetary concerns already on their plates, Americans this Easter will look for special, creative ways to celebrate the holiday without breaking the bank,” said NRF President and CEO Matthew Shay. “And as spring weather rolls in, consumers will find affordable ways to spruce up their homes and wardrobes, just in time for visiting family and friends this Easter holiday. Retailers are already lining their shelves with specials on chocolates, warm-weather apparel and even gardening tools and outdoor furniture.”
The survey found that 86.9% of those celebrating Easter will spend an average of $45.26 on their holiday meal, while nearly half will spend about $25 on new outfits for their families. About 90% will purchase candy – spending an average of $20.66 on jelly beans, chocolate and other confections. Additionally, cost-conscious consumers will spend an average of $9.49 on flowers and $9.11 on decorations. Shoppers will flock to discount stores (63.4%), department stores (40.7%), specialty stores (24.9%), online outlets (21.1%) and specialty clothing stores (10.6%).
Four in 10 smartphone owners will research items and store locations and hours on their mobile device; 14.8% of those surveyed said they will purchase Easter goods with their smartphones. Just over half (51%) of tablet owners will use their devices to look up products, with about 22% saying they will make purchases on their tablets.
“While many of today’s consumers are coping with tight budgets, the Easter Bunny isn’t headed toward retirement in 2013,” said BIGinsight Consumer Insights Director Pam Goodfellow. “Look for cost-conscious parents to scope the sale racks, head to discounters, and clip coupons to keep spending on track and to make the holiday special for youngsters this year.”
NRF’s 2013 Easter Spending Survey polled 5,050 consumers from March 5-11, 2013. The consumer survey has a margin of error of plus or minus 1.4 percentage points.