Retail group predicts Easter sales to reach nearly $17 billion |
Written by Christine D. Johnson |
Thursday, 22 March 2012 09:16 AM America/New_York |
Americans will spend an average of more than $145.28 on products ranging from apparel and candy to food and decorations this year, up 11% from $131.04 last year, according to the National Retail Federation’s Easter spending survey, conducted by BIGinsight. Total spending is expected to reach $16.8 billion. “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 Matthew Shay, president and CEO of the retail group. The survey showed that those celebrating Easter have a strong appetite for candy and spring clothes. Shoppers (89.3%) are expected to spend more than $2 billion on traditional candy such as chocolate eggs and jelly beans with the average individual giving more than $20 to cashiers to satisfy their sweet tooth. Nearly half (48.5%) will take advantage of sales on fashion and accessories, with spending on those items expected to reach $3 billion. Consumers also will spend an average of $20.57 on gifts for friends and family, $10.50 on flowers and $9.07 on decorations for home and office. Half (53.6%) will buy greeting cards, spending an average of $7.04. “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. “It remains to be seen though, if this spending momentum will carry into the coming months with the cost of fueling up on the rise.” While 25.4% said they would shop at specialty stores such as a jeweler, electronic store or florist, or a specialty clothing store (9.7%), online retailers are expected see the biggest jump in traffic. Nearly two in five polled (18.7%) will shop online, up from 14.8% last year. Tech devices will play a strong role with Easter shoppers this year. More than half (52.3%) of tablet owners celebrating Easter will use their device to research products and make purchases. Specifically, 25.7% say they will purchase something and 36.6% plan to research products and compare prices. More than one-quarter (26.3%) will look up company and store information, such as store hours and location, and 15.3% will use apps to research and purchase products. Additionally, 43.3% of smartphone owners celebrating Easter will use their mobile device to research and/or purchase items. |