Americans are also expected to spend an average of $150 per person during the holiday.
NORTH AMERICA–U.S. consumers are expected to spend a total of $18.2 billion this Easter, which is only slightly lower than last year’s record $18.4 billion, according to the National Retail Federation.
The findings are part of the organization’s annual Easter Spending Survey, which was conducted by Prosper Insights and Analytics.
The NRF reports that 81 percent of Americans will celebrate the holiday and are expected to spend an average of $150 per person, down from last year’s record high of $152.
“Despite a modest drop, the Easter forecast is still very positive and nearly as high as last year’s record,” says Matthew Shay, president and chief executive officer, NRF. “Consumer spending remains healthy both for this holiday and this spring, and that paints an optimistic picture for the U.S. economy in the year ahead.”
According to the survey, consumers are expected to spend $5.7 billion on food (purchased by 87 percent of shoppers), $3.2 billion on clothing (48 percent), $2.9 billion on gifts (61 percent), $2.6 billion on candy (89 percent), $1.3 billion on flowers (39 percent), $1.1 billion on decorations (42 percent) and $780 million on greeting cards (46 percent).
Heading into the holiday, 59 percent of shoppers say they will shop at discount stores, 46 percent will visit department stores, 28 percent will make purchases online, 25 percent will go to a specialty store and 25 percent will go to a small business or local store.
Furthermore, among smartphone users, 30 percent will research products or compare prices on their devices while 19 percent will use their phones to make a purchase.
“With more than three-quarters of consumers saying they will celebrate Easter this year, the holiday continues to be a traditional staple for Americans,” says Phil Rist, executive vice president of strategy, Prosper Insights. “We continue to see consumers across ages, genders, regions and disposable incomes participate in this holiday.”