Consumer spending on Easter is forecast to total $21.6 billion this year, slightly below last year’s projection – which went unreleased by the NRF due to the pandemic – of $21.7 billion, according to the NRF. Some 79% of adults plan to celebrate Easter this year, down from the 81% who had planned to last year before the pandemic struck. However, they will spend almost four dollars more this year ($179.70 on average), setting a new record for average expected spending on the holiday.
As a retail event, the $21.6 billion planned spending on Easter still lags behind at least one other holiday: it is more than $5 billion less than Mother’s Day spending last year ($26.7 billion). It’s about on equal footing with this year’s Valentine’s Day spending forecast of $21.8 billion. That said, it is more than $4 billion higher than the spending forecast for Father’s Day last year ($17 billion).
Food remains the biggest retail category at Easter time in terms of dollar spending ($6.3 billion), followed by gifts ($3.7 billion), clothing ($3.6 billion) and candy ($3 billion).
Although fewer men (76%) than women (81%) plan on celebrating Easter, on average they expect to spend more than women ($209.54 vs. $151.34). Individuals between the ages of 35-44 plan to spend more than all of the other age groups with an average spend of $260.33, followed by those ages 25-34 ($249.70).
The most common celebration plans, per NRF, will be cooking a holiday meal (59%) and visiting family and friends in person (a somewhat high 43% considering the circumstances). Shopping will also figure into some people’s plans, with 13% planning to shop in-store and 17% shopping online.
Even if some individuals do not plan to celebrate Easter, some still intend to take advantage of sales associated with the holiday. Among the 21% of people who do not plan to celebrate the holiday more than half (52%) say they will shop Easter-related sales, with the largest portion buying candy (37%), followed by food (20%).
About the Data: The survey was fielded March 1-8 among 8,111 US adults.
