Inasmuch as springtime is always a time of eternal hope for all good things to come, Easter is a typical bellwether for the retail community to gauge the spirit of the American consumer. As we continue the struggle to emerge from the grips of the pandemic, the National Retail Federation has some great news for retailers based on recent research indicating it could be a record season.
The NRF has announced this morning that consumers plan to spend an average of $179.70 this Easter, the highest figure on record, according to results of the annual survey released today by the federation and Prosper Insights & Analytics. In fact, they tell us that a total of 79-percent of Americans will celebrate the Easter holiday and spend a collective $21.6 billion, a forecast that is down slightly from last year’s pre-pandemic forecast of $21.7 billion.
NRF President and CEO Matthew Shay says, “With new stimulus funds from the President’s American Rescue Plan, positive trends in vaccinations and growing consumer confidence, there is a lot of momentum heading into the Spring and holiday events like Easter,” and adds, “Many have figured out how to celebrate holidays safely with family and that is reflected in consumer spending this Easter.”
Easter gifts, food and candy are the biggest drivers of growth this year. Consumers plan to spend an average of $31.06 on gifts (up from $27.91 in 2020), $52.50 on food (up from $51.76) and $25.22 on candy (up from $23.30).
As more and more individuals become vaccinated, consumers are planning to celebrate in ways they might have missed last year due to COVID-19. The newest CDC guidance on gatherings means some families might be able to plan a festive meal with vaccinated family members or take advantage of warmer weather and gather outside.
This year, consumers plan to mark the holiday by cooking a holiday meal (59-percent), visiting with family and friends (43-percent), watching TV (43-percent), planning an Easter egg hunt (31-percent) or attending church (28-percent). However, not everyone is ready to resume in-person activities, with 22-percent indicating they will attend church virtually and 24-percent saying they will connect with their loved ones by phone or video.
Prosper Insights Executive Vice President of Strategy Phil Rist says, “Keep in mind that last year’s survey was conducted in early March before the pandemic forced most of the country to shut down and reflects consumers’ pre-pandemic plans.” He suggests, “This year’s numbers reflect not just consumers’ resilience in the last 12 months but also the enduring popularity of Easter.”
For those looking to purchase Easter-related items, 48-percent will shop at discount stores, 35-percent will visit department stores, 35-percent will make purchases online, 23-percent will go to a specialty store and 23-percent will go to a small business or local store. Similar to other holiday events during the pandemic, this year’s online shopping figure (35-percent) is the highest in survey history, up from 28-percent last year.
While not everyone plans to celebrate, plenty of shoppers will be on the hunt for Easter-related sales. More than half (52-percent) of those who don’t celebrate Easter still plan to take advantage of these deals and expect to spend an average of $21.11 (up from $17.64 in 2020). The most popular item is candy, which respondents have shown transcends across age, gender and disposable incomes.
The survey of 8,111 consumers was conducted March 1-8 and has a margin of error of plus or minus 1.1 percentage points.
NRF did not release its 2020 Easter survey, which was conducted in early March 2020, just before government-mandated closures took place. Due to the timing, the survey reflects consumers’ pre-pandemic plans.
The National Retail Federation, the world’s largest retail trade association, advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs — 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies.
