Consumer Behavior

NRF: Easter spend will be a record breaker

Photo by istock.com

March 25, 2021

Consumers are expected to spend more on Easter this year, an average of $179.70, which would be the highest spend on record.

The prediction comes from an annual survey released by the National Retail Federation and conducted by Prosper Insights & Analytics. A total of 79% of Americans will celebrate the holiday and spend $21.6 billion, according to a press release on the findings.

"With new stimulus funds from the President's American Rescue Plan, positive trends in vaccinations and growing consumer confidence, there is a lot of momentum heading into the Spring and holiday events like Easter," NRF President and CEO Matthew Shay said in the release. "Many have figured out how to celebrate holidays safely with family and that is reflected in consumer spending this Easter."

Consumers plan to spend an average of $31.06 on gifts (up from $27.91 in 2020), $52.50 on food (up from $51.76) and $25.22 on candy (up from $23.30).

This year, consumers plan to mark the holiday by cooking a holiday meal (5%), visiting with family and friends (4%), watching TV (4%), planning an Easter egg hunt (3%) or attending church (2%). About 22% will attend church virtually and 24% said they will connect with their loved ones by phone or video.

"Keep in mind that last year's survey was conducted in early March before the pandemic forced most of the country to shut down and reflects consumers' pre-pandemic plans," Prosper Insights Executive Vice President of Strategy Phil Rist said. "This year's numbers reflect not just consumers' resilience in the last 12 months but also the enduring popularity of Easter."