Easter Spending Hops to New Heights
Consumers plan to hunt for gifts in discount stores
March 24, 2016
Retail spending during Easter this year is expected to be higher than years prior, according to research from the National Retail Federation (NRF) and Proper Insights & Analytics . The last time spending was almost this high was in 2013.
NRF surveyed 7,264 US internet users ages 18 and older about their holiday spending plans. In 2016, US retail Easter spending is expected to reach $17.3 billion. That’s an increase from 2010, when spending totaled $13.0 billion.
In 2012, US retail Easter spending reached $16.7 billion and a year later that increased to $17.2 billion. However, in 2014, spending during Easter dropped to $15.9 billion, and then increased again the following year.
The survey also looked at where US internet users plan to purchase Easter gifts. More than half (58.4%) of respondents said they plan to shop at discount stores. Moreover, 41.4% of internet users said they intend to shop at department stores.
Local and small businesses and specialty stores where other locations that respondents said they planned to purchase Easter gifts at. Some 21.4% of internet users said they plan to shop online.