Consumers plan to spend around $20 billion on Easter-related items
Consumers plan to spend an average $169.79 this year on Easter-related items, according to results of the annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. A total of 80%t of Americans will celebrate the holiday and spend a collective $20.8 billion, down slightly from last year’s forecast of $21.6 billion.
“Consumers are eager to return to their pre-pandemic holiday traditions, particularly as it relates to purchasing food and gifts for in-person celebrations this Easter,” said Matthew Shay, president and CEO for NRF. “Friends and family want to be together, and consumers are willing to spend money to make these events memorable.”
With just more than half (51%) of consumers planning in-person celebrations, up from 43% the previous year, food will account for the largest spending category. Among those planning to celebrate Easter, the average spend is $53.61 on food, followed by $28.04 on gifts and $27.93 on clothing.
Inflation concerns are driving consumers to seek the most value for their dollar when shopping for the Easter holiday. If the price of an Easter-related item is higher than expected, 42% of consumers said they will look for it at another retailer and 31% will find an alternative like another brand or color. Like last year, half (50%) of holiday shoppers plan to purchase gifts at discount stores, 41% at department stores and 35% online.
While consumers are prioritizing in-person celebrations, virtual holiday plans have declined sharply since the beginning of the pandemic. Only 13% are planning to visit family and friends virtually, a 62% decrease from 2020. Virtual church service attendance is also expected to be down, with only 12% planning to attend by phone or video compared with 32% in 2020.
“Even those not celebrating Easter still plan to spend an average of $18.49 per person, underscoring this popular holiday’s wide economic reach,” said Phil Rist, vice president of strategy for Prosper Insights.
The survey of 8,155 consumers was conducted March 1-9 and has a margin of error of plus or minus 1.1% points.