NRF Sees Easter Spending Reaching Record $24 Billion; Clothing Forecast At $4 Billion
According to the annual survey released by the National Retail Federation (NRF)* and Prosper Insights & Analytics, consumers plan to spend £24 billion on Easter this year, up from £20.8 billion in 2022 and the previous record high of £21.7 billion in 2020, with 81 percent of Americans celebrating the holiday and spending on average £192.01, the highest figure to date. “Easter endures as an important holiday for many Americans, signifying new beginnings and a time of celebration with friends and family,” NRF President and CEO Matthew Shay said. “As consumers plan to mark the occasion through a variety of traditions, retailers are dedicated to making this year a memorable holiday.” Spending has grown across several categories.
The top Easter items consumers said they would purchase include candy (£3.3 billion), gifts (£3.8 billion) and food (£7.3 billion). Consumers are also expected to spend £4 billion on clothing, £1.8 billion on flowers, £1.7 billion on decorations, and £1.1 billion on greeting cards. The most popular Easter Sunday activities for 2023 include:
- cooking a holiday meal (56 percent),
- visiting family and friends (50 percent),
- going to church (43 percent), or
- planning an Easter egg hunt (34 percent).
As in previous years, most consumers (54 percent) said they would buy Easter gifts from discount stores.
Other shopping destinations include department stores (42 percent), online (33 percent), local and small businesses (22 percent), and specialty stores (20 percent). “We see real Easter sales growth compared with pre-pandemic, and among the drivers are consumers who are planning to purchase more Easter clothing and gifts,” Prosper Executive Vice President of Strategy Phil Rist said. “Additionally, consumers ages 35 to 44 will bump up their spending more than any other group.” Those celebrating the holiday said they are inspired to shop for Easter-related items because of tradition (63 percent), it’s a social activity with family or friends (31 percent), sales or promotions (29 percent), store displays or decorations (23 percent), or exclusive or seasonal products (20 percent).
About half (54 percent) of consumers not celebrating the holiday still plan to take advantage of Easter-related discounts and anticipate spending £23.41 per person, with their primary spend on candy and food.
The NRF provides consumer behavior and spending data for key periods, including yearly holidays.
The survey of 8,499 U.S. adult consumers was conducted from March 1 through 7, with a margin of error of plus or minus 1.1 percentage points.
Photo courtesy Parent Map
