Easter spending is expected to hit $18.2 billion this year, slightly below the $18.4 billion spent in 2017 but still the second-highest level on record, according to a survey by the National Retail Federation (NRF) and Prosper Insights & Analytics. An estimated 81% of Americans will shop for the holiday, spending an average of $150 per person.
Approximately 87% of consumers plan to buy food, totaling a combined $5.7 billion. Other categories that will benefit from the holiday include:
- Clothing (48% of shoppers, $3.2 billion);
- Gifts (61% of shoppers, $2.9 billion); and
- Candy (86% of shoppers, $2.6 billion).
Many shoppers plan to complete their Easter purchases at discount stores (58.9%) or department stores (45.8%). Other channels and segments they will frequent include:
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- Online (28%);
- Local/small businesses (24.9%);
- Specialty stores (24.6%); and
- Specialty clothing stores (11.6%).
“Despite a modest drop, the Easter forecast is still very positive and nearly as high as last year’s record,” said Matthew Shay, President and CEO of NRF in a statement. “Consumer spending remains healthy both for this holiday and this spring, and that paints an optimistic picture for the U.S. economy in the year ahead.”
Among smartphone users, 30% will use their device to research and compare prices, while 19% will use a phone to make a purchase. Some customers will shop as part of the day-of holiday celebration, with 11% planning to shop online and 9.2% expecting to visit a physical store on Easter Sunday.
