People hitting the stores to purchase Easter décor, food, and spring clothing are also shelling out a bit more cash on those items this year.
According to the 2011 Easter Consumer Intentions and Actions survey from the National Retail Federation (NRF), the average consumer is expected to spend $131.04 on Easter-related items, including candy and clothes. This is an increase from the $118.60 spent per customer last year, but still not quite at pre-recession levels.
In a press release, NRF president and CEO Matthew Shay says with Easter falling later in the spring this year, holiday promotions have lasted much longer. But, even with the lengthier promotions, holiday spending is still not where it was before the recession.
“Though lingering concerns over food and energy prices may keep shoppers from splurging, retailers are expecting consumers to stock up on apparel, home décor, and of course, food and candy, a good sign leading into the much busier and important months to come,” Shay says.
Food and candy is said to account for most of consumers’ budgets, raking in $2.1 billion in candy sales and $4.5 billion in food sales.
Food is not the only thing taking a bite out of consumers’ budgets this Easter. Spring sales have prompted people to buy new clothing and the average consumer will spend $21.51 on apparel, up from $19.03 in 2010. Spending on clothing is expected to total $2.4 billion in sales this year. Meanwhile, consumers will spend an average of $9.02 on flowers, $8 on decorations, $6.79 on greeting cards, and $19.89 on gifts, according to the NRF survey, conducted by BIGresearch.
The most popular destinations for Easter gifts are department stores (36.6%) and discount stores (62.6%), although specialty stores carrying flowers, jewelry, and electronic merchandise will also see their share of traffic (22.4%).*
* The sum percent is higher than 100% because respondents could choose more than one kind of store when polled.
Author: Darice Britt