Consumers Projected to Spend Nearly $18.1B This Year on Easter

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Consumers Projected to Spend Nearly $18.1B This Year on Easter
Editorial Credit: Shutterstock
Consumers Projected to Spend Nearly $18.1B This Year on Easter
Editorial Credit: Shutterstock

With families getting ready to celebrate the upcoming Christian holiday of Easter this Sunday, they are purchasing baskets and chocolate for their kids, hams and sweet potatoes for dinner, and eggs and dye.

With this interest in the holiday, the National Retail Federation and Prosper Insights & Analytics survey predicts that consumers will spend close to $18.1 billion this year in supplies for Easter celebrations. The survey suggests that 79 percent of consumers will celebrate the holiday and spend an amount slightly short of last year’s Easter spending by about $1 million.

According to the survey, consumers will purchase up to $151 per person on Easter-related items, up by $1 from last year.

“Those under age 35 really embrace every aspect of the holiday, from the traditional to the whimsical,” wrote Katie Jordan, manager, research and industry insights at NRF. “These younger consumers are even more likely than the average adult to say they plan on celebrating Easter and are the only age group that’s seen a consistent increase in those celebrating compared with a decade ago.”

What’s getting consumers to the stores is togetherness — spending time with family, having a more relaxed Easter with pre-made Easter baskets, and finding less time-consuming meals to prepare for the occasion. However, NRF suggests that consumers under 35 may have more flexibility to their Easter celebration and plan more activities.

“Compared with the average person celebrating Easter, those under 35 are significantly more likely to say they will plan an Easter egg hunt, open gifts, browse online or shop over the holiday,” Jordan wrote.

Another aspect of younger consumers is the fact that they may be willing to spend more on their holiday celebration, considering the occasion as “a social activity with their loved ones.”

In the digital age of shopping, mobile retail and purchasing is also a factor in how consumers get their Easter products.

“Those under 35 are also more inclined than ever to hop on their smartphones to assist in Easter shopping,” Jordan wrote. “In 2015, only 63 percent planned to use their smartphones to help with purchasing decisions around the holiday; that’s jumped to 74 percent, significantly higher than older age groups.”

About 37 percent of those ages 24 to 35 will purchase their Easter supplies using a mobile device or online.

Whether a consumer plans to celebrate with their extended family or just their significant other, research suggests they are going to spend more during this season. The tradition allows for families to pass their traditions on and to continue celebrating with their loved ones. Easter will continue on as families continue to celebrate together.

Source: nrf.com

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