Easter retail sales are expected to bounce back to near pre-recession levels as consumers fill their baskets with everything from candy and greeting cards to food and clothing, according to results of the National Retail Federation’s 2011 Easter Consumer Intentions and Actions survey.
Total spending on Easter-related merchandise is expected to reach $14.6 billion, with the average consumer expected to spend $131.04, up from $118.60 last year.
“Due to such a late holiday, Easter promotions will last all spring long," said NRF President and CEO Matthew Shay. “Though lingering concerns over food and energy prices may keep shoppers from splurging, retailers are expecting consumers to stock up on apparel, home décor and of course food and candy, a good sign leading into the much busier and important months to come."
Food and candy will account for most of a consumer’s budget, bringing in $2.1 billion in candy sales and $4.5 billion in food sales.. The average consumer will spend $18.55 on candy, compared to $17.29 last year, and $40.05 on food, up from $37.45 last year.
Easter’s biggest spenders will be 25- to 34-year-olds ($173.41 vs. $136.79 last year) and young adults aged 18 to 24 ($145.12 vs. $125.85). On average, 35- to 44-year-olds will spend $138.55, followed by 45- to 54- year olds ($122.15) and 55- to 64-year-olds ($113.32).
Sources:
* National Retail Federation: Spending on Food, Gifts and Apparel Expected to Increase This Easter, According to NRF
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