Easter spend could reach $18.4 billion: NRF

According to National Retail Federation’s (NRF) annual survey conducted by Prosper Insights & Analytics, spending for Easter is expected to reach $18.4 billion, up 6 percent over last year’s record $17.3 billion and a new all-time high in the survey’s 14-year history. The average spending according to the survey is expected to be $152 per person, up 4 percent from last year’s previous record of $146.

Easter this year is approaching nearly three weeks later than 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,” NRF President and CEO Matthew Shay said. “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.”

“Easter continues to be a traditional holiday for consumers of all ages, especially young families who are planning to spend a bit more for this celebration,” Prosper Principal Analyst Pam Goodfellow said. “With the later timing of Easter, we will see more consumers shopping for special deals, especially on apparel and decorations.”