Consumers Eager for Spring as Easter Spending Increases -Spending expected to reach $14 billion-
Washington, DC, March 20, 2007 – After a long, cold winter for most of the country, consumers are eager to celebrate Easter with their family and friends, according to NRF’s 2007 Easter Consumer Intentions and Actions Survey. This year, shoppers who are planning to celebrate Easter (79.5%) are expected to spend an average of $135.07, up 11 percent from last year’s $121.72 per person. Total holiday spending is estimated to reach $14.37 billion*.
Spending is expected to increase across the board, with the average shopper planning to invest the most on a new spring outfit ($26.03) and food for their Easter meal ($37.56). Other popular Easter purchases include candy ($18.53), gifts ($20.61), flowers ($9.63) and decorations ($7.63).
“Easter is a critical time for apparel retailers,” said NRF President and CEO Tracy Mullin. “Retailers will be looking to the warmer weather to help stimulate the sale of spring apparel.”
With Easter coming relatively early this year, retailers have already begun stocking their shelves in anticipation of the big day. Department stores will be a popular shopping destination this year, (36.8% vs. 30.0% last year). Other popular locations for Easter shopping include specialty clothing stores (6.7%), specialty stores (23.7%), online (12.7%) and catalog (5.6%). Although discount stores will see the most traffic, they won’t see as much as last year (57.2 vs. 59.6%).
Shoppers between the ages of 25-34 will spend the most per person this year ($147.47). Coming in second is the 45-54 age group ($144.13), followed by 35-44 year olds ($139.36) and 18-24 year olds ($137.30).
“Easter is gaining more relevance as a retail holiday,” said Phil Rist, Vice President of Strategy for BIGresearch. “With a focus on apparel, shoppers are once again turning their attention toward department stores to see what’s in for spring.”
About the Survey
The NRF 2007 Easter Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Easter holiday. The survey was conducted for NRF by BIGresearch. The poll of 8,801 consumers was conducted from March 7-14, 2007. The consumer poll has a margin of error of plus or minus 1.0 percent.
BIGresearch is a consumer market intelligence firm that provides unique consumer insights that are gathered online utilizing very large sample sizes. BIGresearch's syndicated Consumer Intentions and Actions survey monitors the pulse of more than 7,000 consumers each month to empower its clients with unique insights for identifying opportunities in a fragmented and changing marketplace.
The National Retail Federation is the world's largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores and grocery stores as well as the industry's key trading partners of retail goods and services. NRF represents an industry with more than 1.6 million U.S. retail establishments, more than 24 million employees - about one in five American workers - and 2006 sales of $4.7 trillion. As the industry umbrella group, NRF also represents more than 100 state, national and international retail associations. www.nrf.com.# # # *Total based on extrapolation of U.S. population of adults 18+