Total spending is expected to reach $18.4 billion.
The National Retail Federation is anticipating that consumers will spend more than ever as they celebrate the Easter holiday nearly three weeks later this year than last.
The findings are part of the organization’s annual Easter Spending Survey, which was conducted by Prosper Insights and Analytics.
Total spending for the holiday is expected to top at $18.4 billion, up 6 percent compared to last year’s record of $17.3 billion and a new all-time high in the survey’s 14-year history. Furthermore, those celebrating plan to spend an average of $152 per person, up 4 percent form last year’s previous record of $146.
According to the survey, consumers are set to spend $5.8 billion on food (purchased by 87 percent of shoppers), $3.3 billion on clothing (50 percent), $2.9 billion on gifts (61 percent), $2.6 billion on candy (89 percent), $1.2 billion on flowers (39 percent), $1.1 billion on decorations (43 percent) and $788 million on greeting cards (48 percent).
The 50 percent of consumers planning to buy apparel is up from 45 percent last year and is the highest level in a decade. The $3.3 billion expected to be spent on the category is also up 9 percent from last year.
Additionally, 58 percent of consumers celebrating the holiday will shop at discount stores, 46 percent at department stores and 26 percent at local small businesses. Furthermore, 27 percent will shop online, up from 21 percent last year.
“Most consumers have almost an entire extra month to shop for Easter this year, and by the time the holiday comes the weather should be significantly warmer than last Easter,” says Matthew Shay, president and chief executive officer, NRF. “That should put shoppers in the frame of mind to splurge on spring apparel along with Easter decorations. With the economy improving, consumers are ready to shop and retailers are ready to offer great deals whether they’re buying Easter baskets or garden tools.”