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NRF: Food Purchases Will Heat Up On July 4th

Good news for food and party goods retailers: Consumers will be celebrating the July 4th holiday by firing up their barbecues over the long weekend.

More than 153 million Americans will spend their weekend grilling, spending an estimated $6.2 billion on total food consumption, according to the National Retail Federation (NRF) 2014 Independence Day Survey, conducted by Prosper Insights & Analytics. Each household will spend approximately $68.16 to stock up on burgers, snacks, sodas, and more, for the occasion.

Beyond their own festivities, Americans celebrating Independence Day plan to attend fireworks shows (105 million) and parades (27 million).  

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But an all-time high number of consumers will be hitting the road for a vacation during the holiday weekend, with approximately 13.7% of all respondents (32 million) planning to leave town. Despite volatile gas prices, more than 70% of consumers said that gas prices would not affect their holiday spending, compared to 65% in 2013. 

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