NRF: Consumers Sweeten Spending For Easter

According to the National Retail Federation’s Easter Spending Survey, conducted for the organization by Prosper Insights & Analytics, the average person celebrating Easter this year will spend $140.62, slightly more than the $137.46 for the 2014 holiday. NRF said it expects total Easter spending to reach $16.4 billion.

In the study, 58.6% of respondents said they would head to discount stores to purchase their holiday merchandise. In the meantime, 40.7% would shop at department stores, while 23.8% plan to shop at a local or small business. Additionally, 21.8% would visit a specialty store such as a florist or jewelry store and 18.8% would shop online.

As far as what consumers will buy for the holiday, 87.1% of those celebrating said they world buy candy, spending more than $2.2 billion, the study determined, followed by 45% who intend to purchase clothing, spending more than $2.9 billion. In addition, survey respondents said the would spend $2.4 billion on gifts, $1.1 billion on flowers, $998 million on decorations and $695 million on greeting cards.

Mobile devices will see action in the holiday, the survey related, as 21.4% of respondents who celebrate Easter and own smart phones said they would use their devices to research products and/or compare prices, and another 13.5% stated that they would use them in purchasing. In a similar vein, 24.9% of tablet owners who celebrate the holiday said they would research Easter products and/or compare prices on their devices while 16.6% said they planned to use them to make a purchase.

“Easter will be the perfect segue into spring for both consumers and retailers who have longed for warmer weather for quite some time,” said NRF president and CEO Matthew Shay. “As one of the busiest times of year for several retail sectors and as shelves begin filling with both traditional spring and holiday merchandise, retailers are looking forward to welcoming shoppers with attractive promotions on home goods, garden equipment and traditional Easter items.”