News

Easter will be a hopping time in consumer spend

April 7, 2017

A new National Retail Federation report predicts American shoppers will spend more than ever to celebrate Easter this year.

Spend is expected to hit $18.4 billion, a 6 percent jump over $17.3 billion in 2016, according to the NRF annual survey conducted by Prosper Insights & Analytics. It could mark a new all-time high in the survey's 14-year history, noted a press release.

American shoppers are expected to spend an average of $152, a 4 percent increase over last year's average spend of $146.

"Most consumers have almost an entire extra month to shop for Easter this year, and by the time the holiday comes the weather should be significantly warmer than last Easter," NRF President and CEO Matthew Shay said in the release. "That should put shoppers in the frame of mind to splurge on spring apparel along with Easter decorations. With the economy improving, consumers are ready to shop and retailers are ready to offer great deals whether they're buying Easter baskets or garden tools."