WASHINGTON -- Even high prices at the pump can’t keep the Easter Bunny away this year. Americans are expected to shell out an average of $145.28 on everything from apparel and candy to food and decorations this Easter, up from $131.04 last year.
Total spending is expected to reach $16.8 billion, according to a spending survey conducted by BIGinsight on behalf of the National Retail Federation.
“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 Matthew Shay, NRF president and CEO. “Retailers will make sure to offer plenty of promotions on candy, apparel, food and decorations in the coming weeks for eager holiday shoppers.”
Those celebrating Easter have a hefty appetite for candy and new spring clothes, the survey found. 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 also plan 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. Some 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. About 42.6% -- the highest percent in the survey’s history -- will shop at a department store for gifts and other holiday merchandise. Online retailers, however, will see the biggest jump in traffic this year; 18.7% will shop online, up from 14.8% last year and just 11.1% 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%).
Published by The Business Journal, Youngstown, Ohio.