Clothes, candy expected to boost U.S. Easter sales to $16.4 billion
by March 25, 2015 2:55 pm 119 views
Whether consumers plan to don their Sunday best or play Easter Bunny for the kids, some 80% of Americans said they plan to celebrate the Easter holiday this year by doling out an average $140.62 per person, up 2.3% from a year ago.
Spending this Easter is expected to top $16.4 billion, up from $15.8 billion last year, according to the National Retail Federation. Retailers expect candy and apparel sales to be strong amid lower gas prices which is putting a little more cash into family budgets compared to year ago.
“Easter will be the perfect segue into spring for both consumers and retailers who have longed for warmer weather for quite some time,” said NRF President and CEO Matthew Shay. “As one of the busiest times of year for several retail sectors and as shelves begin filling with both traditional spring and holiday merchandise, retailers are looking forward to welcoming shoppers with attractive promotions on home goods, garden equipment and traditional Easter items.”
The Easter holiday traditionally marks the shift into spring and boosts apparel sales in the process. Consumers are expected to dole out $2.9 billion in new clothes for their families. According to the survey, 45% of those celebrating will purchase clothing.
Grocers also are poised to benefit as 85.7% of people plan to buy food for a special holiday meal this year. Food spending is expected to top $5.3 billion compared to $5 billion spent last year, according to the survey results. Roughly 15% of consumers said they will opt to eat out on Easter and skip the cooking and cleanup.
The report also shows that 9 out of 10 shoppers will purchase candy ahead of the Easter holiday spending a projected $2.2 billion, even with a year ago. Fan favorites include jelly beans, chocolate bunnies and chick-shaped Peeps.
Consumers this holiday are also expected to spend $2.4 billion on gifts, $1.1 billion on flowers, $998 million on decorations and $695 million on greeting cards.
Discount retailers are expected to be some of the biggest winners this holiday with 58.6% looking for good prices on their Easter merchandise. Another four in 10 plan to shop at department stores, while nearly one-quarter (23.8%) plan to shop at a local or small business. Additionally, 21.8% will head to a specialty store like a florist or jewelry store and 18.8% will shop online.
The majority of Easter participants (57.4%) said they plan to spend the day visiting friends and family, and half (50.8%) will attend a church service. About a third of those surveyed said they will plan an Easter egg hunt for the children in their lives.
“Easter remains a beloved affair for consumers young and old, and this year it looks like families are ready to dig into their budgets to make the most of the special day,” said Prosper’s Principal Analyst Pam Goodfellow. “The warm weather should help fuel some interest in celebrations, especially given the record-breaking winter much of the country experienced the last several months.”