News

July 4 not just big for firecrackers and BBQs

June 23, 2016

Total spending on the annual patriotic U.S. holiday, July 4, will be a bit higher this year, hitting about $6.8 billion.

That's an increase of 1.4 percent over the 2015 July 4 holiday, according to a new National Retail Federation survey conducted by Prosper Insights and Analytics.

"Americans are ready to kick-start summer by enjoying Independence Day with family and friends," NRF President and CEO Matthew Shay said in a release. "Whether it's low gas prices or just good weather, more people plan to celebrate this year, and that means more shoppers are online and in stores as they prepare for the festivities."

Consumers are projected to spend $71.34 per household on food. Last year the food bill was about $71.23.

The survey found an estimated 214 million people plan to celebrate the holiday.