NRF SAYS LATER EASTER EXPECTED TO BRING RECORD SPENDING

Americans will spend more than ever as they celebrate Easter nearly three weeks later this year than last, the National Retail Federation is reporting. According to NRF’s 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. Those celebrating plan to spend an average of $152 per person, up 4 percent from last year’s previous record of $146.

“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,” said Matthew Shay, president and CEO of 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.”

According to the survey, consumers will 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 clothing is up from 45 percent last year and is the highest level in a decade while the $3.3 billion expected to be spent is up 9 percent from last year.

With shopping lists in hand, 58 percent of consumers will head to discount stores, 46 percent will go to department stores and 26 percent will shop at local small businesses. In addition, 27 percent will shop online, up from 21 percent last year. Among smartphone owners, 28 percent will research products on their devices while 18 percent will use their phones to make a purchase, while another 9 percent will use apps to do their research or purchase products.

“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,” added Pam Goodfellow, principal analyst at Prosper. “With the later timing of Easter, we will see more consumers shopping for special deals, especially on apparel and decorations.”