According to the National Retail Federation, the average family will spend about the same on Independence Day cookouts and picnics this year as last, but more Americans plan to celebrate. Total spending for the holiday should gain slightly, according to the research conducted by Prosper Insights & Analytics.
About 214 million people plan to celebrate the holiday, the survey determined, which will result in expected total spending of $6.8 billion, up 1.4% from last year. On average, consumers will spend $71.34 per household on food for barbecues and picnics, basically flat from last year’s $71.23. As for activities, 65% of respondents said they plan to attend a cookout, barbecue or picnic while 43% will watch fireworks or join another community celebration and 12% will attend a parade.
The survey also found that American families are well-stocked on patriotic items: Nearly two-thirds own a U.S. flag, half own patriotic-themed apparel such as T-shirts and hats and a third own patriotic decorations. Nonetheless, 25% plan to purchase more of these items in preparation for the holiday.
Consumers also have travel and vacation plans, with 12.7% of survey respondents, saying they would head out of town. Only 21% said current low gas prices would affect their travel plans, down from 22% last year and a peak of 47% when gas prices were higher in 2011, NRF noted.
The survey of 6,811 consumers was conducted June 1 to 7 and has a margin of error of plus or minus 1.2 percentage points.