Easter Shoppers Sticking To A Budget, NRF Says [AUDIO]
When it comes to Easter holiday shopping, many of us will be sticking to a budget this year and keeping frugality in mind.
That’s according to the National Retail Federation’s Easter Spending Survey conducted by BIGinsight, which finds that the average person will spend $145.13 on candy, decorations, apparel and food, which is virtually flat compared to last year’s $145.28. Total spending is expected to reach $17.2 billion.
“With a plethora of budgetary concerns already on their plates, Americans this Easter will look for special, creative ways to celebrate the holiday without breaking the bank,” said National Retail Federation President and CEO Matthew Shay. “And as spring weather rolls in, consumers will find affordable ways to spruce up their homes and wardrobes, just in time for visiting family and friends this Easter holiday. Retailers are already lining their shelves with specials on chocolates, warm-weather apparel and even gardening tools and outdoor furniture.”
According to the survey, 86.9 percent of those celebrating Easter will spend an average of $45.26 on items needed for their holiday meal.
Many plan to purchase new spring attire. Nearly half , 48.4 percent, will purchase clothing for Easter, spending an average of $25.91 on new outfits for their children. About nine in 10, or 90.5 percent, will stock up on Easter candy, spending an average of $20.66 on jelly beans, chocolate and more. Consumers also will spend an average of $20.82 on gifts, $9.49 on flowers and $9.11 on decorations.
“There’s no question that consumers are grappling with their budgets and still trying to get a handle on their finances,” said Kathy Grannis of the National Retail Federation. When it comes to shopping, families plan to go for price and value. Most people will shop at discount stores and four in 10 plan to hit their favorite department store.
“While many of today’s consumers are coping with tight budgets, the Easter Bunny isn’t headed toward retirement in 2013,” said Pam Goodfellow, BIGinsight Consumer Insights Director. “Look for cost-conscious parents to scope the sale racks, head to discounters and clip coupons to keep spending on track and to make the holiday special for youngsters this year.”