According to the National Retail Federation’s (NRF) annual survey with Prosper Insights & Analytics, 80 percent of Americans will celebrate Easter this year and 51 percent of celebrations will be in person.
The survey also shows that American consumers plan to spend an average of $169.79 this year on Easter-related items and spend a collective $20.8 billion, down slightly from last year’s forecast of $21.6 billion.
With increased in-person celebrations, food will be the largest spending category among those planning to celebrate Easter. The average person celebrating the holiday will spend $53.61 on food, followed by $28.04 on gifts and $27.93 on clothing.
“Even those not celebrating Easter still plan to spend an average of $18.49 per person, underscoring this popular holiday’s wide economic reach,” says Prosper Insights executive vice president of strategy, Phil Rist.
Additionally, inflation concerns will have customers searching for the best deals this holiday. According to the survey, if the price of an Easter-related product is higher than expected, 42 percent of consumers said they will look for it at another retailer, and 31 percent will find an alternative like another brand or color. Furthermore, 50 percent of holiday shoppers plan to purchase gifts at discount stores. Like last year, 41 percent of holiday shoppers plan to purchase gifts at department stores, and 35 percent will purchase online.