News

Easter spend expected to be very robust

March 26, 2018

Easter spending is predicted to hit $18.2 billion, nearly as high as last year's record-setting $18.4 billion, according to a National Retail Federation and Prosper Insights & Analystics survey.

Research indicates 81 percent of American consumers will celebrate the religious holiday, spending an average of $150 per person, about $2 less than last year.

"Despite a modest drop, the Easter forecast is still very positive and nearly as high as last year's record," said NRF President and CEO Matthew Shay, in a press release. "Consumer spending remains healthy both for this holiday and this spring, and that paints an optimistic picture for the U.S. economy in the year ahead."

According to the survey, consumers will spend $5.7 billion on food, $3.2 billion on clothing, $2.9 billion on gifts, $2.6 billion on candy, $1.3 billion on flowers, $1.1 billion on decorations and $780 million on greeting cards.

The survey reported 59 percent of consumers will shop at discount stores, 46 percent will hit department stores, 28 percent will buy online, 25 percent will go to a specialty store and 25 percent will go to a small business or local store.

Among smartphone users, 30 percent said they research products or compare prices on their devices while 19 percent will use phones to make a purchase.