NRF: Fourth Of July Spending To Increase

Americans are expected to increase their spending for the Fourth of July holiday, according to a survey from the National Retail Federation.

The query of 7,258 consumers conducted in early June revealed that total spending to celebrate America’s independence will increase to $7.1 billion this year, up from $6.8 billion in 2016.

A total of 162 million consumers plan to take part in a cookout or picnic, spending an average $73.42 per person, up from last year’s $71.34. The numbers cover only food items, not other holiday-related spending.

“With warmer than average weather so far this summer, Americans should be in the mood to head outside to celebrate, whether it’s watching fireworks or firing up the BBQ,” said Matthew Shay, NRF president and CEO. “Retailers will be well-stocked with everything from flags to burgers to help Americans prepare for their holiday activities.”

The survey found that 65% of consumers already own a U.S. flag, 53% patriotic-themed apparel such as T-shirts, bathing suits or shoes and 40% own patriotic decorations. Nonetheless, 28% plan on purchasing more patriotic items.

When it comes to other activities to celebrate Independence Day, 44% of Americans will attend a firework show or community celebration and 14% will watch a parade.