Flat retail spending for Easter expected
Consumers are expected to spend $14.4 billion on food, apparel, gifts, flowers, decorations and candy to celebrate Easter this year, according to a new report from the National Retail Federation.
The research from the Washington, D.C.-based trade group finds the average consumer will shell out $135.03 on the holiday, similar to last year's expected $135.07.
This year, 79 percent of consumers will hit the stores to stock up on marshmallow-shaped chicks, Easter baskets, plastic bunnies, flimsy hats and chocolate-covered eggs.
Of those celebrating, the majority will spend an average of $41.09 on Easter meals. Consumers will also dish out an average of $23.82 for apparel, $21.42 for gifts, $18.12 on candy, $9.11 on flowers and $7.21 on decorations, according to the retail group pay day loans.
"Easter is typically seen as the official kickoff to spring, when retailers debut new clothes and consumers are in the mood to buy for warmer weather," said National Retail Federation's chief executive Tracy Mullin in a statement. "Although this is one of the earliest Easter holidays on record, retailers are hoping that this year will be no different."
The numbers were not broken down by metro area.
Washington Business Journal
Filed under: economics by Guru