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Americans to Rev Up July 4th Spending

Americans to Rev Up July 4th Spending

U.S. consumers are expected to spend $7.1 billion on food for cookouts this Fourth of July, up from $6.8 billion in 2016, according to the National Retail Federation.

U.S. citizens are expected to spend $73.42 per person on food items for the summer holiday.

U.S. consumers are expected to spend $7.1 billion on food for cookouts this Fourth of July, up from $6.8 billion in 2016, according to the National Retail Federation.

The findings are part of a July 4 spending survey conducted by Prosper Insights and Analytics, which highlights food spending for the holiday outside of other holiday-related spending.

According to the survey, 219 million Americans (88 percent of those surveyed) plan to celebrate the holiday. Of those, 162 million (66 percent) plan to participate in a cookout or picnic, spending an average of $73.42 per person, up from last year’s $71.34.

“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,” says Matthew Shay, president and chief executive officer, NRF. “Retailers will be well-stocked with everything from flags to burgers to help Americans prepare for their holiday activities.”

In addition, the survey discovered that 65 percent of consumers own a U.S. flag; 53 percent own patriotic-themed apparel such as t-shirts, bathing suits or shoes; and 40 percent own patriotic decorations. However, 28 percent plan on purchasing more patriotic merchandise.

Forty-four percent of Americans will also attend a firework show or community celebration. Fourteen percent will watch a parade.

As always, the Fourth of July holiday is a popular time for travel, with 32.9 Americans (13 percent of those celebrating) reporting they will head out of town, up from 31.1 million last year. However, only 18 percent of those celebrating say gasoline prices will affect their plans, down from 21 percent last year and record low since the survey began in 2004.

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