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Americans likely to spend $17 bn in Easter
23
Mar '16
Americans are tipped to spend more than ever on Easter this year.

According to the National Retail Federation's (NRF) annual Easter Spending Survey conducted by Prosper Insights and Analytics, spending for the holiday is expected to reach $17.3 billion.

Those celebrating plan to spend an average of $146 per person, according to the survey. That's the highest level in the 13 years the survey has been conducted and up significantly over last year's $140.62 per person and $16.4 billion total, the NRF said in a press release.

“Retailers are beginning one of their busiest times of year and are more than ready as consumers shop for spring essentials,” NRF President and CEO Matthew Shay said. “Shoppers will find promotions on a number of items on their lists, from Easter baskets to sports equipment, home goods, garden tools and more.”

According to the survey, consumers will spend $5.5 billion on food, $3 billion on clothing, $2.7 billion on gifts, $2.4 billion on candy and $1.2 billion on flowers.

With shopping lists in hand, 58.4 per cent of consumers will head to discount stores, 41.4 per cent will go to department stores and 24.7 percent will shop at local small businesses. Not everyone will make it to stores: 21.4 per cent will shop online, up from 18.8 per cent last year. Among smartphone owners, 22.8 per cent will research products on their devices while 14.9 per cent will use their phones to make a purchase.

“Easter is a traditional holiday that consumers of all ages and on all budget levels celebrate with family and friends,” Prosper Principal Analyst Pam Goodfellow said. “Consumers have longs lists of items they need to get their spring off to a good start. Smart shoppers plan to compare prices, research the items on their lists and take advantage of promotions on things like apparel and candy.”

Consumers celebrate Easter in a number or different ways: 57.8 per cent will visit family and friends, 55.6 per cent will cook a holiday meal, 51.3 percent will go to church and 15.6 per cent will go to a restaurant. Children have plenty to look forward to after the Easter Bunny comes: 31.4 per cent of consumers plan an Easter egg hunt and 13.9 per cent will open gifts.

The survey of 7,264 consumers was conducted March 1-8 and has a margin of error of plus or minus 1.2 percentage points. (SH)

Fibre2Fashion News Desk – India

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