With this year’s independence holiday falling mid-week, according to the National Retail Federation and research partner Prosper Insight & Analytics, consumers in the U.S. plan to spend $6.9 billion on food for Fourth of July cookouts and picnics.
The annual study indicated that the total will be down from last year’s record $7.1 billion as fewer people have made big plans for the holiday, which this year falls on a Wednesday. Still, the total planned spend for this year represents the second-highest amount in the survey’s history. In addition, NRF noted, per-person spending should be up, at least on food.
According to the survey, more than 216 million Americans, or 87%, plan to observe Independence Day, down slightly from last year’s 219 million, or 88%. About 153 million Americans, or 62%, are planning a cookout or picnic, spending an average of $75.35 per person on food, setting a new record while topping last year’s $73.42 figure.
However, Phil Rise, Prosper Insights evp/strategy, said, “Over a quarter of Americans plan to buy more patriotic decorations for the holiday this year, We find young people really embrace this holiday, which explains why young people are significantly more likely to buy more patriotic-themed decorations or apparel for the holiday than any other age group.”