National Retail Federation predicts Easter spending to be the highest on record
Nearly 8 in 10 people plan to celebrate Easter in 2021
BRYAN, Texas (KBTX) - Even with the impacts of the pandemic, Easter 2021 is looking to make an impact on the record books, according to the National Retail Federation (NRF).
In its annual Easter survey, the National Retail Federation surveyed 8,111 consumers at the beginning of March and respondents indicated a majority of them will be celebrating the holiday in some form or fashion. The NRF says, nearly 8 in 10 consumers will mark the holiday this year and a lot of that has to do with the positive momentum the U.S. is seeing heading into the Easter and spring season.
“With new stimulus funds from the President’s American Rescue Plan, positive trends in vaccinations and growing consumer confidence, there is a lot of momentum heading into the Spring and holiday events like Easter,” said NRF President and CEO Matthew Shay in a statement by the National Retail Federation. “Many have figured out how to celebrate holidays safely with family and that is reflected in consumer spending this Easter.”
Average consumer spending is expected to reach the highest point it has ever been this Easter at $179.70 per person, according to the NRF.
People will be spending money on items like Easter gifts, food, and candy this holiday, which are big contributors to the growth, says the NRF.
According to the NRF’s data, “consumers plan to spend an average of $31.06 on gifts (up from $27.91 in 2020), $52.50 on food (up from $51.76) and $25.22 on candy (up from $23.30).”
For those not celebrating the holiday with Easter egg hunts and religious services, consumers will still take part in the Easter-related sales.
The NRF says 52 percent of people who are not celebrating, will still shop the sales and on average will spend about $21.
What they are buying? Candy.
The NRF found that across ages, income, and gender, the most popular item for people to buy is candy during the sales. Furthermore, candy is also the most planned purchase during the holiday, too.
Click here to “jump” into more 2021 Easter data.
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