Easter sales strong despite high gas prices

With just three shopping days to go until families don their Sunday best or play Easter Bunny for the kids, retailers say sales are good.

High gas prices weren’t enough to deter pre-holiday spending according to the National Retail Federation as Americans will shell out an average $145.28 for the Easter holiday.

Consumer spending is expected to be 11% above last year, totaling roughly $16.8 billion when all receipts are tallied.

“Though the price of gas is on everyone’s mind, Easter is one of the few holidays some consumers are willing to stretch their budgets, especially because many children look forward to treats and new outfits on Easter morning,” said NRF President and CEO Matthew Shay.

He said retailers have offered plenty of promotions on candy, apparel, food and decorations for eager holiday shoppers.

The federation’s annual survey of families indicates candy and new spring apparel tops the list for shoppers. Roughly half of those surveyed said they will head into stores to take advantage of retailers’ spring sales on fashion and accessories — expected to top $3 billion by the end of Easter weekend.

The majority of Americans — 89% — will head straight to the candy aisle doling out more than $2 billion on traditional favorites such as chocolate bunnies and jelly beans. Candy sales are expected to reach $20.35 million, up from $18.55 million last year.

Easter meals will cost Americans an average of $44.34, up from $40.05 last year for a total $5.1 billion. This increase is largely related to inflationary food costs.

“Beautiful weather conditions coupled with a slight lift in consumer confidence will likely be a boon to the Easter holiday this year as consumers begin to seek out new spring merchandise for their home or garden, and even their wardrobe,” said BIGinsight Consumer Insights Director Pam Goodfellow.

She said higher fuel prices are the wildcard retailers most fear will derail the spending momentum following the spring holiday and sales promotions.

Goodfellow said all retail channels are sharing the Easter bounty. Though 64% of consumers say they will shop at their local discount store, this year 43% say they will shop at department stores. That is the highest percent in the survey’s history.

Online retailers will see the biggest jump in traffic this year — nearly one in five or 18.7% will shop online, up from 14.8 % last year.

Discount retailer Walmart conducted its own customer survey and found shoppers wanted a wide assortment of chocolate but also hoped to shop with maximum savings in mind.

“Our customers told us that price matters the most when shopping for candy, food and apparel this Easter,” said Laura Phillips, senior vice president, toys and seasonal at Walmart U.S. “We have made sure their favorite Easter items are available at a low price so they can build the perfect basket, entertain their loved ones and enjoy the holiday without spending too much.”

The Walmart survey found chocolate was the basket winner as 60% of families shopping for Easter say they will buy chocolate.

Moms and dads filling Easter baskets will need lots of grass and eggs. Walmart says its shoppers will buy enough eggs to line up from New York City to Los Angeles eight times, which is equal to one trip around the earth