Report: Spending on Food, Gifts and Apparel Expected To Increase This Easter
The NRF's 2011 Easter Consumer Intentions and Actions survey, conducted by BIGresearch, expects consumer spending on Easter food, gifts and apparel to climb this year. According to survey the average consumer is expected to spend $131.04 on everything from candy to clothes - a 10% increase from last year's $118.60 but below pre-recession levels. Total spending on Easter related merchandise is expected to reach $14.6 billion.
NRF President and CEO Matthew Shay, says, "Due to such a late holiday, Easter promotions will last all spring long. Though lingering concerns over food and energy prices may keep shoppers from splurging, retailers are expecting consumers to stock up on apparel, home decor and of course food and candy, a good sign leading into the much busier and important months to come."
Food and candy account for the bulk of consumer Easter spending - $2.1 billion in candy sales and $4.5 billion in food sales. Spending on candy is expected to climb from $17.29 to $18.55 and spending on food is expected to climb from $37.45 to $40.05. The average Easter consumer will spend $21.51 on new apparel, up from last year's $19.03 and totaling $2.4 billion in sales. Consumers are also forecast to spend money on flowers ($9.02), decorations ($8.00), Easter greeting cards ($6.79) and gifts ($19.89).
The survey also found that Easter's biggest spenders will be 25-34 year-olds ($173.41 vs. $136.79 last year) and young adults 18-24 ($145.12 vs. $125.85). Thirty-five to 44 year olds will spend an average of $138.55, followed by 45-54 year olds ($122.15) and 55-64 year olds ($113.32).
The complete details from the survey can be found here in a PDF file.
The NRF's 2011 Easter Consumer Intentions and Actions survey, conducted by BIGresearch, expects consumer spending on Easter food, gifts and apparel to climb this year. According to survey the average consumer is expected to spend $131.04 on everything from candy to clothes - a 10% increase from last year's $118.60 but below pre-recession levels. Total spending on Easter related merchandise is expected to reach $14.6 billion.
